Futures rose as Credit Suisse borrowed $54 billion from the Swiss National Bank after The Nasdaq eked out a gain Wednesday. Read More...
Stocks slide, safety shines as bank fears spread
Asian stocks tumbled on Thursday, and investors bought gold, bonds and the dollar as fear of a banking crisis was reignited by fresh troubles at Credit Suisse, leaving markets on edge ahead of a European Central Bank meeting later in the day. Australian shares slumped 2% as well, led by losses for banking stocks, while miners dropped heavily too as the spectre of worldwide banking stress has traders getting out of all kinds of growth-sensitive assets. In New York the S&P 500 fell 0.7% but the focus was on banks and in Europe where Credit Suisse shares crashed 30% to a record low after its biggest shareholder, Saudi National Bank, said it could not provide further financial help.