PARIS (Reuters) – The New York Stock Exchange fell shortly after the opening on Wednesday, the setbacks of Credit Suisse reigniting fears of a banking crisis.

In early trading, the Dow Jones index lost 475.67 points, or 1.48%, to 31,679.73 points and the broader Standard & Poor’s 500 fell 1.45% to 3,862.52 points.

The Nasdaq Composite lost 1.2%, or 137.128 points, to 11,291.021.

The “futures” on these indices slightly reduced their losses after the publication, an hour before the opening, of indicators which maintain the hope that the Federal Reserve will be less aggressive in its monetary tightening at the meeting of the week. next.

But this prospect is not enough to reassure market sentiment, once again shaken by banking news and this time from Europe.

Credit Suisse tumbled 28.73% in Zurich and its Wall Street-listed stock 22.35% after its largest shareholder said it could not provide additional financial support.

After the collapse last week of SVB Financial and Signature Bank, this information increases concerns about a sector hurt by the rise in central bank rates.

“Credit Suisse stock is plummeting as the fallout from the Silicon Valley Bank collapse continues. We remain concerned that these ripple effects will continue to ripple throughout the economy and we remain on the defensive for now,” said John Leiper at Titan Asset Management.

The big American banks Bank of America, JPMorgan and Citigroup drop from 2.21% to 4.79%.

The CBOE volatility index, a barometer of investor nervousness, took 13.06%.

The risk aversion that is fueling the fall in equities has resulted in a decline in assets deemed the safest, such as the dollar and government bonds, with the result of a narrowing of the spread between maturities at two and ten years.

(Laetitia Volga, editing by Kate Entringer)

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