Credit Suisse Shares Are Having Their Worst Run in 11 Years
- Shares fall as much as 5.4% on Monday to a fresh record low
- Lender has been hit by wealth management outflows, scandals
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Shares in troubled Swiss lender Credit Suisse Group AG slipped as much as 5.4% on Monday, hitting a fresh record low and putting them on track for their longest losing streak since 2011.
The stock has fallen for ten straight days, losing as much as 27%, with last week’s warning about massive outflows in the core wealth management business stunning investors. News that the lender agreed a sale of a large part of its securitized products business to Apollo Global Management Inc. was also received negatively, with analysts saying many details were lacking.