US stocks trade mixed as Credit Suisse troubles stoke fears of a banking crisis
US stocks recovered some losses to end mixed on Wednesday after Europe added to banking crisis fears that have been ripping through the market. hitting a new all-time low in intraday trading. Investors were rattled by news that the bank's biggest backer, Saudi National Bank, would not provide additional capital.
But the Swiss National Bank later said it will provide Credit Suisse with liquidity, if necessary, adding that it"meets the capital and liquidity requirements imposed on systemically important banks." Treasury yields continued to fall as investors dialed back expectations of Fed rate hikes. The yield on the 2-year Treasury sank 30 basis-points to 3.925%, extending its fall after notching a three-day record decline on Monday.
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