Currency Volatility Snaps Higher on Suisse Miss
World markets are coming under renewed selling pressure this morningas signs of a banking contagion spread to Europe. Equity futures are setting up for drastic losses at the open, Treasury yields are down across the curve, and the dollar is pushing higher against its G10 rivals. Oil prices are tumbling, with the West Texas Intermediate benchmark slipping below $70 for the first time since September 2021. A fragile sense of calm was broken when shares in Credit Suisse Group AG plunged and credit default swap prices shot up after it said “material weaknesses” had been found in its reporting. Selling worsened when the head...