Thousands of miles away from New York, a meltdown for Credit Suisse has been hitting global markets, days after Wall Street's own banking stress. U.S. investors need to pay attention.
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Thousands of miles away from U.S. shores early Wednesday, a headline began working its way across Europe, then Wall Street, sparking fresh panic as it dawned on investors they may be facing yet another banking crisis.
In Zurich, shares of Credit Suisse CS CH:CSGN tumbled more than 20% at one point to a new record under €2 after the chairman of the Swiss lender’s top shareholder, the Saudi National Bank, said they won’t invest any more in the bank.
His…
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