Investors anticipate big Fed rate cuts amidst bank turmoil and Credit Suisse fallout.

Investors are betting that the Federal Reserve will deliver big interest-rate cuts this year after trouble at Credit Suisse reignited panic over a broader financial meltdown. The probability that the Fed cuts its rates in May by a quarter-percentage point jumped to 19% on Wednesday afternoon – up from 0% the previous week. The odds are even steeper in June, with about one-quarter of traders pricing in either a quarter-point or half-point rate cut. The central bank typically moves rates in quarter-point increments.