Why Credit Suisse Stock Plunged 71% in March
Shares of Credit Suisse (NYSE: CS) took a dive as it got swept in the global banking crisis and was forced to sell itself to UBS (NYSE: UBS) in a deal brokered by the Swiss government.
Credit Suisse is still publicly traded as the deal hasn't closed yet, but the stock fell sharply last month, losing 71%, according to data from S&P Global Market Intelligence.
As you can see from the chart below, the stock fell sharply following the collapse of Silicon Valley Bank as problems with Credit Suisse became apparent.
Source Fool.com
