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Swiss banking giant ‘Credit Suisse’ shares plunges

Photo: Credit Suisse

Swiss banking giant Credit Suisse’s shares have plunged to a record low as investors remain on edge after the collapse of Silicon Valley Bank.

Credit Suisse’s stock dropped 30% at one point, extending losses from Tuesday, when the company disclosed material weaknesses in its accounting controls.

Investors are concerned about how the bank, which is plagued by issues, will handle the fallout from US bank failures.

According to the BBC, the fear has spread to stock markets, with all major indexes falling sharply.

Writing by Chinasa Ossai; Editing by Adeniyi Bakare