MARKET WRAP: JSE plunges as banking sell-off continues
Credit Suisse’s woes add to growing fears about the health of financial institutions after the collapse of Silicon Valley Bank
15 March 2023 – 19:56
The JSE tracked the global equities slump on Wednesday as the sell-off after the collapse of Silicon Valley Bank regained momentum from fresh turmoil at Credit Suisse.
Mounting troubles at the Swiss lender added to jitters after its biggest shareholder, Saudi National Bank, said it would not inject more money into the bank, which is already battling to recover from a string of scandals that have undermined client and investor confidence. Credit Suisse shares lost as much as 30% of their value on the day, hitting an all-time low…