Credit Suisse shares traded on the Swiss Stock Exchange on Friday, March 10, renewed their all-time low amid a sell-off in U.S. banking sector securities. Quotes fell 6.1% to 2,463 Swiss francs (about $2.65) at the moment. The price of securities recovered to 2.526 Swiss francs ($2.72), but it is still 3.7% below the closing level of the previous trading session.

Papers of another Swiss bank, UBS, fell 5.43% at the low of the trading session on March 10. The industry index EURO STOXX Banks lost 4.89% at the moment. We are also seeing problems with the S&P 500.

Shares of European banks fell after the collapse in the U.S. banking sector, writes RBC. Thus, at the end of trading on Thursday, March 9, the S & P 500 Financials index collapsed by 4.1%, which was the maximum one-day fall since mid-2020. Shares of Bank of America (NYSE:BAC) fell 6.2%. Wells Fargo (NYSE:WFC) fell 6.2% and JPMorgan Chase fell 5.4%. The securities of other big banks in the USA also fell sharply.

The sell-off in the sector came on news of difficulties for SVB Financial Group, the holding company of Silicon Valley Bank, which serves fast-growing startups in the technology and life sciences industries.

SVB Financial reported an emergency bond sale totaling $21 billion from its portfolio, resulting in a $1.8 billion loss. The financial company also said it intended to float $2.25 billion worth of stock to raise funds to cover the losses. At the close of trading on March 9, shares of SVB Financial Group plummeted 60.4%.

Earlier, we reported that the head of Home Depot criticized the Fed and predicted a deep crisis.