Last week, a banking crisis was triggered in the US as three banks failed in the space of a few days. And on Wednesday, things got shaky again after the long-established Swiss bank Credit Suisse ran into bad weather. The bank’s major shareholder, Saudi National Bank, said it had no intention of raising more money if Credit Suisse asked. This led to the stock plummeting by 30 percent.
Several major French banks, such as Societe Generale and BNP Paribas, also fell. In the case, the Swedish banking sector also followed suit. Nordea lost a whopping 7.7 percent. SEB and Swedbank retreated 5.4 percent and 5.1 percent, respectively, while Handelsbanken closed down 4.2 percent.
Another big loser was clothing giant H&M, which accounted for the biggest decline on the OMXS30 list with a fall of 8.5 percent. This is after this morning’s sales figures for, among other things, the important Christmas period, which did not meet the market’s expectations.
The text is updated.