Global Banking Concerns Cause Stock Market Plunge
TL;DR Summary
The Dow Jones Industrial Average reduced its loss to 1% — to a 320 point drop. Credit Suisse shares plunged after its largest investor, Saudi National Bank, said it would not make further investments in the Swiss bank. First Republic got a sharp rating cut to junk rating by S&P Global Ratings on worries that clients are pulling out their money. Tech stocks held up, with AMD breaking out of a flat base and Facebook parent Meta Platforms building a flat base. Wholesale prices rose less in February compared to January, while U.S. retail sales fell 0.4% in February.
- Dow Jones Pares Some Losses As Bank Fears Reboot; First Republic Slammed With Junk Rating Investor's Business Daily
- U.S. stocks drop on worries about Credit Suisse, global banking NPR
- U.S. Stocks Fall As Bank Worries Spread To Europe HuffPost
- Stock market news today: Stocks plummet, yields fall amid Credit Suisse turmoil Yahoo Finance
- S&P 500 index needs to hold this key level while Morgan Stanley models interest rates to rise Invezz
- View Full Coverage on Google News
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