SVB collapse: Credit Suisse shares plunge nearly 9% to new record low

Credit Suisse shares plunged by nearly nine percent on Monday to hit a new historic low, as the repercussions of the collapse of failed US lender SVB shook the markets.

At 10:16am (0916 GMT), shares in Switzerland's second biggest bank dropped by 8.85 percent to 2.275 Swiss francs, with Credit Suisse having lost 81 percent of its value since it was rocked by the bankruptcy of the British financial firm Greensill in March 2021 -- the first of a series of scandals that have shaken the Zurich-based lender.

• US marshalling 'material action' to stem SVB fallout