Stocks sink as bank contagion fears spook investors, Credit Suisse in crosshairs as shares hit a record low, regional banks see sharp declines and producer prices ease in latest inflation data. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
European shares fell on Wednesday as bank stocks resumed their selloff, after a short-lived bounce in the previous session, with Credit Suisse plunging to a fresh record low.
The bank index is set to lose more than 120 billion euros in market value since the close of March 8.Spain and Italy's lender-heavy indexes fell almost 4% each. There was also a cooling of optimism that the U.S. Federal Reserve will tone down its rate-hiking spree next week in the aftermath of Silicon Valley Bank's collapse.
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