Wall Street tumbles as Credit Suisse sparks fresh bank selloff By Reuters

*WALL STREET TUMBLES AS CREDIT SUISSE SPARKS FRESH BANK SELLOFF; DOW DOWN 550 POINTS $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸

NEW YORK - U.S. stocks fell sharply on Wednesday as turbulence at Credit Suisse revived fears of a banking crisis, eclipsing bets of a smaller interest U.S. rate hike in March following weak economic data.

"They've tightened at the steepest, most dramatic rate that we've seen since 1980 and so I think this could be the opportunity for them to pause," said Cresset Capital CIO, Jack Ablin. "Anything negative from any highly visible institution, in this case Credit Suisse, is going to have ripple effects across the financial sector," said Michael James, managing director of equity trading at Wedbush Securities.

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