Credit Suisse Sends Global Markets into a Tailspin

This week, Credit Suisse sent global markets into a tailspin when the Swiss bank announced that it would borrow up to $54 billion from the Swiss National Bank as a lifeline to boost its liquidity.[0] On Wednesday, Credit Suisse’s stock fell to an all-time low of $1.76, and shares in the bank were down 24% by the end of the day.[1] The news prompted fears of a global banking crisis, and wiped out $60 billion in value from European banks.

On Thursday, Credit Suisse’s stock rose after the Swiss National Bank agreed to loan the bank up to $50 billion, and Credit Suisse offered to buy back around 3 billion francs’ worth of debt.[2] U.S.-listed shares of Credit Suisse gained nearly 6% after the announcement, and Al Khudairy, the bank’s chief executive, appealed for calm after his comments sparked Wednesday’s market chaos.[3]

The news from Credit Suisse serves as a reminder of the fragile state of the global financial system, and the risks that can arise when banks take on too much debt. Investors should be aware of these risks and take appropriate measures to protect their investments. Yahoo Finance is a great source for the latest financial and business news.

0. “Credit Suisse: Imperiled global investment bank has CCP-tied official on risk committee” Fox News, 17 Mar. 2023,

1. “AMC Fans Mock Credit Suisse as Share Prices Fall Below Meme Stock” Newsweek, 16 Mar. 2023,

2. “Credit Suisse pressures carry risks for the Triangle” The Business Journals, 16 Mar. 2023,

3. “Credit Suisse was so fragile that a blunt answer in a TV interview was enough to send it to ask the Swiss central bank for $54 billion” Fortune, 16 Mar. 2023,