Market Sinks as Credit Suisse, Banks in Europe Worry Investors

On Wednesday, U.S. stock futures dropped amid worries related to Credit Suisse and banks in Europe.[0] The Dow Jones Industrial Average (^DJI) fell 1.7% or more than 500 points, the S&P 500 (^GSPC) slumped 1.5%, and the Nasdaq Composite (^IXIC) slid 1.8%.[1]

The S&P 500 (^GSPC), Dow Jones Industrial Average (^DJI) and Nasdaq Composite (^IXIC) all had their worst weeks since at least November, as fears of a growing financial crisis deepened with the recent collapse of Silicon Valley Bank. INDU futures decreased by 1.7%, the SPX futures dropped by 1.8%, and NDX:IND futures declined by 1.6%.[2]

The yield on the 10-year Treasury note decreased by 12 basis points to 3.51%. Bond yields also declined, with the yield on the 10-year U.S. Treasury note moving down to 3.68% Friday. The U.S. 10-year Treasury yield (US10Y) decreased by 6 basis points to 3.58%, and the 2-year yield (US2Y) decreased by 5 basis points to 4.17%.

Retail sales fell 0.4% over the last month and producer-price index, which measures what suppliers are charging businesses, dropped 0.1% in an unexpected decline.[3]

Meta Platforms (META) announced Tuesday it would cut another 10,000 jobs in the coming months.[4] Credit Suisse (CS) stock dived 25% in premarket trading as Saudi National Bank, its top shareholder, ruled out any further investments.[5]

Gold futures rose 1% to $1,929.90 an ounce, while EUR/USD dipped by 1.26% to 1.0599.[6]

The Federal Reserve will announce its March decision next week, with investors debating whether a 0.25% or 0.50% rate hike is likely.[7]

Investors should be aware of the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if they have any questions.[8]

0. “Dow, S&P, Nasdaq futures lower after Tuesday’s rebound, yields dip” Seeking Alpha, 15 Mar. 2023,

1. “Market Update: Stocks Slightly Lower Despite Banks – Ticker Tape” The Ticker Tape, 13 Mar. 2023,

2. “Dow Jones futures fall 600 points following international bank shares’ sharp decline” Washington Examiner, 15 Mar. 2023,

3. “Stock market news today: Stocks plummet, yields fall amid Credit Suisse turmoil” Yahoo News, 15 Mar. 2023,

4. “Dow Jones Futures Fall 500 Points As Credit Suisse Triggers European Bank Sell-Off | Investor’s Business Daily” Investor’s Business Daily, 15 Mar. 2023,

5. “Big Four US banks drop in pre-market wiping out gains as Credit Suisse shares plunge” Daily Mail, 15 Mar. 2023,

6. “Wall Street Frets Over Bank ‘Dominoes’ in Wild Day: Markets Wrap” Yahoo News, 15 Mar. 2023,

7. “Stock market news today: Stocks smoked after jobs beat and SVB collapses” Yahoo News, 10 Mar. 2023,

8. “S&P 500 Dives as Banking Stress Triggers Market Tremors, Dollar Up on Haven Demand” DailyFX, 15 Mar. 2023,