SVB collapse sends shockwaves through EU financial market

Credit Suisse bank's stock plunge has rattled global markets, with the Swiss central bank stepping in with a $53 billion lifeline. Meanwhile, Credit Suisse’s biggest shareholder, Saudi National Bank, said it wouldn’t boost its share past the current level of just under 10%, triggering a 30% fall of its share price.

The situation comes hot on the heels of financial turmoil in the US, where the collapse of two major banks has reverberated throughout the financial world.

RT contributor Rachel Marsden picks up the story.

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