European stock markets fall following the bankruptcy of Silicon Valley Bank
Wednesday was the worst day for Credit Suisse shares, which plummeted by a historic 22% to reach their lowest value, with each share trading at only 175 Swiss francs.
Concerns about the bank’s situation and consequently the decline in its shares began when Ammar Al Khudairy, chairman of Saudi National Bank, the largest shareholder of this bank, announced in an interview with Bloomberg TV his firm decision not to increase his investment in the bank.
In the latest reactions to market developments, Mairead McGuinness, the European Union Commissioner for Financial Services, emphasized in the European Parliament that European authorities must remain vigilant to the significant changes in international markets.