Credit Suisse shares tumble to new record low as European banking sector reels . Swiss banking giant Credit Suisse on Wednesday saw its shares fall to a new record low, pressuring the broader market and the rest of the European banking sector days after two lenders collapsed in the U.S. Credit Suisse shares CSGN, -24.24% CS, -23.51% fell as much as 31%, breaking below the 2 franc level and extending the declines that seen its shares drop 78% over the last 52 weeks. The fresh losses came after the chairman of the bank’s top shareholder, Saudi National Bank, ruled out investing any more into the bank in a Bloomberg interview on Wednesday. The Saudi bank has just under a 10% stake in Credit Suisse, and crossing that threshold would subject it to new rules.
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