Stocks making the biggest moves midday: Credit Suisse, First Republic Bank, Halliburton and more
In this article Check out the companies making headlines in midday trading. Credit Suisse — Shares of Credit Suisse plunged 25% after its biggest backer, Saudi National Bank, said it won't provide the Swiss bank with further financial help.
Credit Suisse and several other European banks, including Societe Generale, Italy's Monte dei Paschi and UniCredit, were briefly halted from trading on Wednesday as prices plummeted amid the fallout from Silicon Valley Bank.
First Republic Bank — The regional bank stock tumbled 23%, giving back some of Tuesday's gains as turmoil at Credit Suisse rattled the broader sector and S&P Global Ratings downgraded its debt rating to BB+ from A-.
PacWest shares slid 20%, while Western Alliance shares were last up 2%. U.S. banks — Major U.S. banks tumbled on Wednesday as unease over the latest crisis at Credit Suisse spooked some investors.
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