NZ and Australian share markets poised to drop on Credit Suisse jitters

(Image: Getty)

Thu, 16 Mar 2023

Share markets in Australia and New Zealand are poised to drop on global jitters after shares in Credit Suisse Group AG sank by as much as 30% at one point overnight. “Banking stocks are under pressure again, leading to falls in equity markets, while credit spreads have widened significantly,” said BNZ senior markets strategist, Jason Wong. According to Reuters, Saudi National Bank, Credit Suisse’s largest investor, said it could not provide any more funding on Wednesday.The news came after the Swiss lender said earli...

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