The truce achieved by financial markets on Tuesday after the bankruptcy of two banks in the US was short-lived. This Wednesday, March 15, the markets turned sharply downwards after Credit Suisse announced that it will not invest any more.
The truce achieved by the financial markets on Tuesday after the bankruptcy of two banks in the US it was ephemeral This Wednesday, March 15, the markets turned sharply downward after Credit Suisse announced that it will not invest any more. and the default swap will be triggered. In that context, European banks collapsed again and stock markets collapse.
The selective Spanish Ibex-35 closed with heavy lossesdragged down by the banking sector after the crisis of Credit Suisseafter what the main shareholder of the Swiss group, the Saudi National Bank, ruled out increasing its participation.
The Ibex-35 sank 399.90 points on Wednesday, 4.4%, to 8,759.10 pointswhile the FTSE Eurofirst 300 index of large European stocks lost 2.99%. Is the largest percentage decline in the Ibex since November 26, 2021when the appearance of the omicron variant of the coronavirus triggered panic in the financial markets.
In that stock market, the banking sector suffered heavy losses, Santander fell 6.9%, BBVA fell 9.6%, Caixabank lost 6.7%, Sabadell fell 10.5%, Bankinter dropped 6.5% and Unicaja Banco lost 6.1%.
At the same time, the pan-European STOXX 600 index closed down 3%one day after registering his best day of the year. The banking sector collapsed 7.1%recording its biggest daily drop in more than a year.
Source: Ambito
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