(Bloomberg) Risk assets got pummeled as fresh turmoil at Credit Suisse Group AG days after the collapse of some American regional banks spurred a frantic rush for cover, evoking memories of the 2008 global financial crisis and bolstering speculation that major central banks will have to hit the brakes on tightening to prevent a harsher economic landing. Traders on edge hit the sell button on equities as a plunge in the Swiss lender’s shares ignited a financial industry selloff, engulfing even big names like JPMorgan Chase & Co. and Wells Fargo & Co. First Republic Bank led a rout in US regional peers after being cut to junk by two major credit firms. About 85% of the S&P 500’s stocks fell while the slide in the European equities at one point topped 3%. Oil tumbled to a 15-month low. The surging volatility in financial markets drove Wall Street’s so-called fear gauge toward its highest level since October. As investors dashed to the safest corners, gold reversed losses and the d
The family office for Nicky Oppenheimer and his son Jonathan has set up an outpost in Singapore to boost its Asia exposure and partner with the region’s wealthy.