Dow Falls 352 Points, Treasurys Rally as Banking Fear Returns
Credit Suisse led a rout in European banking shares, and government-bond yields retreated.
The banking storm caused havoc in stocks, bonds, and commodities on Wednesday as investors fled to safety at the U.S. Treasury Market.
Credit Suisse was the leader
European bank shares suffer a rout
The S&P 500 lost nearly 1% while the Dow Jones Industrial Average dropped 352 points or 1.1% and the Nasdaq Composite fell 1.8%, before paring losses to 0.1%. WTI futures, the benchmark U.S. oil, fell more than 4% and crossed the $70 threshold. It also hit a 52-week low at $68.58 per barrel.