Swiss banking giant Credit Suisse. (Fabrice Coffrini/AFP/Getty Images)
Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.
Important Takeaways:
- Dow dives over 600 points as Credit Suisse selloff injects fresh unease into markets
- US stock futures sank Wednesday as worries about Credit Suisse’s financial health revived fears over banks.
- The Swiss bank’s shares plunged 22% in Zurich after its top investor ruled out further support.
- Dow futures fell as much as 600 points premarket as the worries dented US investor sentiment.
- “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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