Stock markets sank on Wednesday on renewed fears of a burgeoning banking crisis, snapping a one-day rally as Credit Suisse shares cratered to lead a rout in major lenders.
Global markets have been rattled by the collapse of tech sector lenders Silicon Valley Bank and Signature, the sector's biggest failures since the 2008 financial crisis.
After a rebound on Tuesday, equities fell again on Wednesday, with Europe's main indices closing more than three percent in the red and the Dow Industrial Average shedding over two percent to lead a slump on Wall Street.
London's FTSE 100 fell by 3.8 percent in its biggest loss in one day since the war in Ukraine erupted in late February 2022.
Source:
Barrons