Why Credit Suisse Stock Was Falling on Monday
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
