U.S. stocks dropped on Wednesday as turbulence at Credit Suisse renewed fears of a banking crisis, while data hinting at economic weakness kept alive hopes of a less aggressive monetary policy move by the Federal Reserve in March.
U.S.-listed shares of Credit Suisse slid 24.3% to hit a record low, after the Swiss bank's largest investorFuelling hopes of a less hawkish Fed policy, data
retail sales fell 0.4% last month from a growth of 3.2% in January, while economists polled by Reuters had expected a contraction of 0.3%.fell in February and the rise in prices in January was not as large as initially thought, offering some hopeful signs in the fight against inflation.
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