became the latest focal point for fears of a banking crisis, leaving markets on edge ahead of a European Central Bank meeting later in the day.take up an option to borrow as much as 50 billion Swiss francs
But sentiment was fragile and a nervous air hung over markets. MSCI's index of Asia-Pacific shares outside Japan fell to 2023 lows and was down 0.9 per cent mid-morning. Japan's Nikkei dropped 1.3 per cent. Insurers, banks, miners and consumer-exposed stocks led the losses around Asia as worries grow that a potential credit crunch can worsen a looming economic slowdown.
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