Credit Suisse shares plunged on Wednesday after already suffering heavy falls following the collapse of two US banks. (Photo: AFP)
Wall Street was back in selloff mode early Wednesday as banking shares faced a fresh hammering amid worries that more lenders could fail.
Major indices were down one percent or more, with US banks following their European counterparts lower as investors fixated on Credit Suisse.
Shares of JPMorgan Chase fell 4.2%, Citigroup lost 5.7% and the embattled regional bank First Republic sank 15%.
The descent marked a reversal from Tuesday’s benign session, in which major indices advanced on an apparent easing of anxiety over the financial system.
“There still remains a lot of question marks with respect…
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