U.S. and European shares plunged in trading on Wednesday, as French bank Societe Generale sank to its lowest level in two-and-a-half years, Reuters writes.
The steep fall in SocGen's shares , its biggest one day percentage fall in 23 years, was initially attributed by traders to concerns that France might lose its triple-A credit rating.
However, its share price continued to drop even after all three major ratings agencies had confirmed France's triple-A rating. That prompted new rumors to emerge about the outlook for the bank.
Unsurprisingly Societe Generale denied all market rumors...
Read more at http://www.cnbc.com/id/44084798
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