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Credit Suisse shares slide 24% after Saudi backer rules out further assistance | Discuss on HN
Credit Suisse shares hit an all-time low for a second consecutive day, dropping by more than 24%. Trading in the bank's plummeting shares was halted several times throughout the morning. The stock recovered slightly by around 11:30 a.m. London time but was still down more than 18% on the day. Saudi National Bank, Credit Suisse's largest investor, said it could not provide the Swiss bank with any further financial assistance, sparking the latest leg lower. Credit Suisse Chairman Axel Lehmann declined to comment on whether his firm would need any sort of government assistance in the future.
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