'Dr Doom' Nouriel Roubini warns SVB's collapse could spread havoc beyond the US
On Wednesday, worries about Credit Suisse revived after its biggest backer, the Saudi National Bank, ruled out investing any more in the bank. more than 20% in Zurich as investors' concerns about stability in the banking sector reignited.
European stocks fell on Monday, when the pan-European Stoxx 600 index of stocks closed 2.3% lower as markets were rattled by SVB's failure."That's the natural lag of the global contagion," said Roubini."That's why even in Europe, stocks are way down, even though they had nothing to do with this particular [collapse]."
European stocks recovered Tuesday as those fears abated, but are falling Wednesday as Credit Suisse's plunge sours investor sentiment. The Stoxx 600 was down 2.6% at last check.
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