Credit Suisse Ignites Global Market Rout as Banking Fears Return

March 20, 2023 by Julien Ponthus and Tasos Vossos

All it took was a few tough words from Credit Suisse Group AG’s biggest shareholder on Wednesday to spark a selloff that quickly spread across global markets.

Asked whether Saudi National Bank was open to further cash injections, Chairman Ammar Al Khudairy said “absolutely not.” It was a reminder about the precarious situation facing the Swiss bank just one day after its CEO, Ulrich Koerner, had sought to shore up investor confidence by pointing to signs of improvement in its business.

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Originally Posted at ThinkAdvisor on March 15, 2023 by Julien Ponthus and Tasos Vossos.