Credit Suisse shares tumbled nearly 30 per cent to an all-time low on Wednesday following comments from its largest shareholder that it would not provide the bank with any more capital.
The shares sank as low as SFr1.59, having earlier been halted amid a heavy sell-off. The declines came after the chair of the Saudi National Bank, which bought a 10 per cent stake in Credit Suisse last year, ruled out providing the bank with any more financial assistance.
The latest woes at the troubled Swiss lender reignited a broader sell-off in European bank stocks, which were already reeling this week from the fallout following the collapse of Silicon Valley Bank.
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