Most Gulf markets turn south as Credit Suisse woes roil markets – Reuters.com

Most Gulf markets turn south as Credit Suisse woes roil markets – Reuters.com

March 15 (Reuters) - Most stock markets in the Gulf gave up early gains to end lower on Wednesday, tracking a decline in global shares, as renewed unease gripped markets after Credit Suisse's largest investor said it could not provide the Swiss bank with more financial assistance.

Saudi National Bank (1180.SE) — the kingdom's biggest lender — acquired a stake of almost 10% last year after taking part in Credit Suisse's capital raising and committed to investing up to 1.5 billion Swiss francs ($1.63 billion).

Banking shares, which have been battered following the collapse of Silicon Valley Bank, resumed their sell-off as the Credit Suisse stock lost almost a quarter of its value, dropping to record lows.