Credit Suisse’s shares fell to a fresh record low for the fifth consecutive day on March 15, following news that its largest investor, Saudi National Bank (SNB), ruled out increasing its stake in the Swiss bank because of regulatory restrictions.
Swiss-listed Credit Suisse shares ended the session down 24 percent; the bank’s U.S.-traded American depositary receipts fell 14 percent. Other U.S.-based bank stocks took hits as well, with JPMorgan closing down almost 5 percent and Wells Fargo and Goldman Sachs closing down about 3 percent. Bank of America fell less than 1 percent.
