Credit Suisse shares slide 21%, trading halted after Saudi backer rules out further assistance

Shares of embattled slope Credit Suisse connected Wednesday deed different all-time debased for a 2nd consecutive session, dropping by much than 21% soon earlier being halted from trade.

Credit Suisse's largest investor, Saudi National Bank, said it could not supply the Swiss slope with immoderate further fiscal assistance, according to a Reuters report.

"We cannot due to the fact that we would spell supra 10%. It's a regulatory issue," Saudi National Bank Chairman Ammar Al Khudairy told Reuters Wednesday.

Several Italian banks were besides taxable to automatic trading stoppages aft crisp declines, including UniCredit, Finecobank and Monte Dei Paschi.

Investors are besides continuing to measure the interaction of the bank's Tuesday announcement that it had recovered "material weaknesses" successful its fiscal reporting processes for 2022 and 2021.

The embattled Swiss lender disclosed the reflection successful its yearly report, which was initially scheduled for past Thursday, but was delayed by a precocious telephone from the U.S. Securities and Exchange Commission (SEC).