Situation in banking sector got new development on Wednesday. This time the problems of Swiss bank Credit Suisse surfaced, which shares collapsed by more than 30% and reached a record low, after which trading was suspended. Against this background, the decline in bank shares continued yesterday.
The impetus was the bank's financial statements, which revealed problems with the outflow of funds and insufficient disclosure, reports Forbes. Author of the bestseller "Rich Dad, Poor Dad" Robert Kiyosaki, who predicted the collapse of Lehman Brothers in 2008, previously called Credit Suisse the next one to collapse. Its largest shareholder, Saudi National Bank, which owns 9.9 percent of its shares, would not provide it with additional finances for a number of reasons, the head of the Saudi bank said in an interview with Bloomberg.
Meanwhile, well-known investor and founder of Bridgewater Associates Ray Dalio warned that the collapse of Silicon Valley Bank is a harbinger of the coming serious crisis that will affect the entire banking sector, writes Business Insider. He believes that the Fed will continue to tighten monetary policy, which will lead to the collapse of new companies.