Credit Suisse Triggers Wall Street Bank Selloff
U.S. stocks fell sharply on Wednesday as Credit Suisse's troubles revived fears of a banking crisis, undoing relief from emergency measures taken by U.S. authorities to prevent contagion after the collapse of SVB Financial and peer Signature Bank. U.S.-listed shares of Credit Suisse hit a record low, after its largest investor said it could not provide more financing to the bank, starting a rout in European lenders and pressuring U.S. banks as well. Data showed U.S. retail sales fell 0.4% last month after 3.2% growth in January. Economists polled by Reuters had expected a contraction of 0.3%.