Stock market today: Dow Jones down 600 pts on Credit Suisse rout

The drop came after a huge selloff in Credit Suisse shares undermined investor sentiment, with fears growing thatplummeted 22% early Wednesday after its top shareholder the Saudi National Bank ruled out extending any more to support the troubled bank, with trading in the stock being halted several times.The extended tumble in Credit Suisse's share price has fueled unease about the global banking sector after SVB, Signature Bank, and Silvergate Capital all imploded over recent days.

"Investors are now trying to guess which might be the next domino to fall, both in the US and outside it," IG Group's chief market analyst Chris Beauchamp said. "Contagion is on everyone's lips, and at present it is too tough to say whether the crisis can be contained effectively," he added.

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Stock Market Today: Dow Futures Drop 600 Points, Credit Suisse Stock Price Down 25%The Dow dropped more than 500 points as banking fears increased and Credit Suisse shares tumbled. Treasury yields fell sharply. Probably good for inflation. “Edna! Get my broker on the line! We’re putting everything in Gold! We’re circling the drain! And bring the Maker’s Mark with you!”
Source: WSJ - 🏆 98. / 63 Read more »

Stock Market Today: Dow down over 400 points as Credit Suisse drop renews banking fearsTreasury yields plunge as market factors in Fed interest-rate cuts by year-end Cuts… 😂 the system is broken. They need to hike but the banking system can’t handle it so now they panic and go back down? Fens sinking their fangs If this happens, we're going to see ridiculous inflation that would make us wish we had just $10 eggs...
Source: MarketWatch - 🏆 3. / 97 Read more »