Credit Suisse shares plunge on market jitters

STORY: Credit Suisse’s shares tumbled around 10% in early trading on Monday (October 3).

The loss reflects market concern about the group as it finalizes a restructuring program.

Euro-dominated bonds issued by the bank also dropped to record lows.

Credit Suisse executives spent the weekend reassuring large clients, counterparties and investors about its liquidity and capital position.

That’s according to a report by the Financial Times.

A spokesman declined to comment on the report when contacted by Reuters.

Chief Executive Ulrich Koerner told staff in a memo last week that the bank had “solid capital and liquidity.”

Shares in the Swiss bank have fallen by more than half this year.