European Shares Slump Most in a Year as Credit Suisse Plunges
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European stocks slumped the most in a year as banking shares accelerated their declines with mounting concerns about Credit Suisse Group AG, while investors also fretted over recession risks amid hawkish monetary policy.
The Stoxx Europe 600 Index fell 2.9% by the close in London, the most since early March 2022. Banking shares resumed their selloff, sinking the most since February 2022, after rebounding yesterday following the sudden collapse of Silicon Valley Bank.