European-American stocks plunged on March 15 after the Credit Suisse incident

Credit Suisse bank logo at a branch in Lausanne, Switzerland. (Photo: AFP/VNA)

Shares of European-American banks just experienced another plunge on March 15 due to concerns about the possibility of more cases. bankrupt Moreover, although the Nasdaq technology index (US) rallied after reassurances from Swiss Central Bank (SNB) about the bank Swiss credit.

In Europe, closing this session, stock indexes were in the red due to the sharp drop of banking codes.

France’s CAC 40 index fell 3.6%, Germany’s DAX index lost 3.3%, and Britain’s FTSE 100 index dropped 3.8%.

In the US, only the Dow Jones Industrial Average fell 0.9% to 31,874.57 points, while the S&P 500 composite index lost 0.7% to 3,891.93 points. Meanwhile, the Nasdaq technology index rose slightly 0.1% to 11,434.05 points.

The major Wall Street indexes were in the red for most of the session, but the Nasdaq bounced back later in the session after the SNB said Credit Suisse had enough capital and that the SNB was ready to provide liquidity to banks. this item if necessary.

The comments come after Credit Suisse shares fell nearly 25% on the Swiss stock exchange.

Concerns about Credit Suisse affect large and small banks in the US, in which shares of “big guys” such as JPMorgan Chase and Citigroup lost about 5%, while shares of mid-sized bank First Republic Bank fell. up to 21.4%.

[Giá cổ phiếu của Credit Suisse giảm 20%, các ngân hàng châu Âu lao đao]

Worries about the banks overwhelm US economic data. U.S. wholesale prices unexpectedly fell in February, while retail sales also fell, suggesting a slowing economy, which could ease pressure on the Federal Reserve. (Fed) next week.

This data situation reinforces the view of investors that the Fed may stop raising interest rates next week.

This session, the Vietnamese stock market reacted very positively after the information that the State Bank had signed and promulgated 2 decisions to reduce the operating interest rate from 0.5-1 percentage point and take effect. force from 15/3.

Closing the session on March 15, VN-Index increased by more than 22 points to 1,062.19 points, HNX-Index increased by 4.46 points to 207 points.

Khanh Ly (VNA/Vietnam+)