Credit Suisse shares tumble to new record low as European banking sector reels

Swiss banking giant Credit Suisse on Wednesday saw its shares fall to a new record low, pressuring the broader market and the rest of the European banking sector days after two lenders collapsed in the U.S.

Credit Suisse shares CH:CSGN CS fell as much as 23%, breaking below the 2 franc level and extending the declines that seen its shares drop 75% over the last 52 weeks.