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Tuesday, March 28, 2023

Turbulent day on the stock exchanges

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Image: Vienna Stock Exchange
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Investors remain highly nervous after the recent collapse of Silicon Valley Bank and the largest US banking collapse since the 2008 financial crisis. According to a representative of the Saudi Credit Suisse major shareholder, how much was shown in an interview on the sidelines of a financial conference. Positive signals were ignored, the market concentrated on the fact that the chairman of the Saudi National Bank categorically ruled out further help for the ailing Swiss investment bank. A price slump of a quarter followed.

The ATX fell by a remarkable 4.48 percent to 3,209.56 points in midday trading. Deep red share prices could also be observed on the leading European stock exchanges. The banks in Europe again had to accept massive price falls. After the previous day’s recovery, the downward pull from the start of the week continued rapidly. The European banking index Stoxx Europe 600 Banks slipped down by 6.5 percent.

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