Contagion fears drive up U.S. bank CDS prices.

The cost for Wall Street banks to insure bonds against default has surged, indicating credit stress for investors amid the crisis at Credit Suisse and U.S. regional banks. Spreads on five-year credit default swaps on JPMorgan Chase, Bank of America, Morgan Stanley, and Wells Fargo have shot up to their highest since October, while those for Goldman Sachs and Citigroup are highest since November. Financial stocks and bonds have shed hundreds of billions of dollars in value since SVB Financial Group and Signature Bank rocked global markets.