Credit Suisse has fallen more than 20.0% to a fresh record low in Zurich while names like BNP Paribas and Societe Generale are also facing pressure.
The European Central Bank is reportedly still leaning toward announcing a 50-bps rate hike tomorrow.
Germany’s ifo Institute continues expecting the domestic economy to contract 0.1% in 2023, followed by 1.7% growth in 2024.