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Credit Suisse Market Turmoil Heightens After Memo Backfires

  • New CEO Koerner sought to reassure employees in Friday memo
  • Shares fall to a fresh record low, gauge of credit risk rises
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Credit Suisse Group AG was plunged into fresh market turmoil after Chief Executive Officer Ulrich Koerner’s attempts to reassure employees and investors backfired, adding to uncertainty surrounding the bank.