Credit Suisse Crisis Leads to a 600-Point Sharp Drop in Dow Jones Index

The Silicon Valley Bank (SVB) bankruptcy crisis continues to spread, foreign media reported.

Global stock markets are under pressure, and it was recently reported that Credit Suisse’s largest shareholder, the Saudi National Bank (SNB), has refused to provide financial assistance, causing Credit Suisse’s stock price to plunge 20% and trading to be suspended. When European stock markets opened today, US stocks fell sharply in trading.

According to the latest market report, at 8:40 pm Taipei time on Wednesday, March 15th, the Dow Jones index fell 600 points, or 1.87% in pre-market trading, while the S&P 500 tumbled 66 points or 1.67%, and the Nasdaq 100 dropped 175.5 points or 1.42%. At the same time, European stock markets opened with simultaneous declines, the UK FTSE 100 fell 177.37 points or 2.29%, the German DAX dropped 414.85 points or 2.72%, the French CAC40 plunged 231.48 points or 3.24%, and the STOXX, which includes 600 European companies, tumbled 11.36 points, or 2.53%. During the same period, large-scale US bank stocks also fell, Wells Fargo dropped 3.88%, Citigroup fell 3.76%, Goldman Sachs declined 2.51%, and Bank of America tumbled 2.75%.

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