Credit Suisse Woes Knock Euro, Sterling, Swiss Franc

U.S. dollar and Euro banknotes are photographed in Frankfurt, Germany, in this illustration picture taken on May 7, 2017. Kai Pfaffenbach/Illustration/Reuters

LONDON—European currencies fell sharply on Wednesday after Credit Suisse’s tumble to a new low renewed worries about the European banking sector following Silicon Valley Bank’s collapse.

Credit Suisse shares fell around 20 percent after its biggest investors said it could not provide more backing.