Global stocks sink after Credit Suisse takeover

Global stock markets sank on Monday after Swiss authorities arranged the takeover of troubled Credit Suisse amid fears of a global banking crisis ahead of a Federal Reserve meeting to decide on more possible interest rate rises (Eugene Hoshiko/AP)

Global stock markets sank on Monday after Swiss authorities arranged the takeover of troubled Credit Suisse amid fears of a global banking crisis ahead of a Federal Reserve meeting to decide on more possible interest rate rises.

Hong Kong’s main index slid more than 3%, market benchmarks in Frankfurt and Paris opened down more than 1%, and Shanghai, Tokyo and Sydney also declined.