European stocks slide as Credit Suisse buyout fails to soothe investors

📆 3/20/2023 12:35 PM
📰 Reuters

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European stocks fell on Monday and shares of Credit Suisse dived more than 60% after UBS agreed to buy the troubled bank in a $3 billion deal, valuing the Swiss lender at just a fraction of its market value and sparking fears of a broader banking crisis.

fell 0.8% by 0807 GMT, after having recorded its biggest weekly decline of the year on Friday.it will pay 3 billion Swiss francs for the 167-year-old bank and assume up to $5.4 billion in losses, in a package orchestrated by Swiss regulators on Sunday.

Investors were also spooked by news that Credit Suisse additional tier-1 bonds - or AT1 bonds - with a notional value of $17 billion will be valued at zero,The wider European banking indexReporting by Sruthi Shankar in Bengaluru; Editing by Sherry Jacob-Phillips

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We are in a position now where the big banks and governments expressing confidence in the institutions is leading to a lack of confidence in the institutions. Investors know their history.....

Wall Street wolves and dinosaurs are involved in everything🤔🤔🤔

I mean, has the deal even finalised yet ‘T’s crossed and ‘I’s dotted? I don’t blame them for being apprehensive

What is this headline? 17 billion in tier-1 bonds were marked as worthless. The bank itself sold for a fraction of its worth. And someone thought this would “soothe the markets?”. It’s an enormous scandal and shock.

2022 year of horror 2023 year of rebellion, 2024 year of solution, 2025 is the year of implementation of the new monetary system, Then you will live happily without owning anything...

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U.S. stock-market futures edge higher after historic deal to rescue Credit SuisseU.S. stock-index futures opened with modest gains Sunday evening as investors assessed a historic deal to rescue troubled Swiss lender Credit Suisse as... Until the next “rescue.” CS was a mess before this, but they are not the last bank with serious issues Thanks Yellen, keep on pumping that money in….and consolidating the banks on the backs of taxpayers guaranteeing their bad behavior.
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