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Why Credit Suisse Stock Was Falling on Monday

TheMotleyFool

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Why Credit Suisse Stock Was Falling on Monday: https://g.foolcdn.com/editorial/images/704242/person-looking-at-data-on-two-spreadsheets.jpg

Credit Suisse Group (NYSE: CS) was falling sharply on Monday, as the stock price was down as much as 10.3% at about 1 p.m. ET. The Zurich-based financial services firm is down about 54% year to date, trading at $4.35 per share.

The Dow Jones Industrial Average was down 246 points (0.8%), the S&P 500 was off 46 points (1.3%), and the Nasdaq dropped 187 points (1.8%) as of the same time.

The embattled financial services firm has watched its stock price tank due to its exposure to a few scandals, including the collapse of Archegos Capital, which faced federal charges of fraud and racketeering. Credit Suisse has suffered in these cases due to risk management failures.

Source Fool.com

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