Credit Suisse Group AG's shares plunged over 5% on Wednesday after the company warned that it is most likely going to face a loss in the second quarter of the fiscal year.
Namely, the group stated that market uncertainty caused by the Ukraine conflict and monetary tightening policy by major central banks in response to rising global inflation will lead to losses in the second trimester.
Previously, the company reported an annual fall of 42% in its revenue in the first quarter of 2022. Credit Suisse's shares tumbled 5.25% at 3:19 pm CET to sell for 6.358 Swiss Francs.
