Squawk on the Street
Market Sell-off: Credit Suisse Woes Reignite Banking Worries 3/15/23
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Show notes
After Tuesday’s relief rally on Wall Street, Carl Quintanilla, Jim Cramer and David Faber reacted to Wednesday's market sell-off as fears about the banking sector resurfaced, just days after the collapse of both Silicon Valley Bank and Signature Bank. Shares of Credit Suisse tumbled by more than 25% to record lows after the bank's largest investor -- Saudi National Bank -- said it could not boost its stake in CS beyond 10% due to regulatory guidelines. European bank shares took a hit on the news, dragging the global markets down with them. What should your investment strategy be when comes to the banks, including the beaten-down regionals? Also in focus: A surprise decline in February wholesale inflation data, monthly retail sales fall, BlackRock CEO Larry Fink weighs in on banks and inflation in his annual letter to shareholders.
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