Is Trouble at Credit Suisse a warning sign of global recession? | Oneindia News*Explainer

The situation seems grim and ominous in one of the Europe’s mightiest banks.

This time, one of the largest global investment banks of the world, Credit Suisse, seems to be on the verge of collapse.

This Monday, its shares fell nearly 8%.

Prior to this, it had fallen by 12% in the previous session.

A year ago, Credit Suisse has had a market cap of $22.3 billion.

Today, its market value is only $10.4 billion and it shares have fallen by almost 60% in the past one year.

Its Credit Default Swaps (CDS) costs have also hit the highest level since 2008.

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