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Credit Suisse
The logo of Swiss bank Credit Suisse is seen at a branch office in Bern, Switzerland October 28, 2020. Picture taken October 28, 2020.

Arnd Wiegmann/Reuters

  • Bets that Credit Suisse will default on its debt soared to record levels on Wednesday.
  • Shares of Credit Suisse plunged 25%, setting off fresh fears of a banking crisis. 
  • The plunge for Credit Suisse came after a top investor said it would not invest more money in the bank.

Credit default swaps tied to bonds issued by Credit Suisse soared to record levels on Wednesday, indicating that more and more traders believe the Swiss bank will default on its debt.

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Markets, MI Exclusive, Credit Suisse, Credit Suisse stock, Banks, Stock Market, Mover, Trading, finance, Euro bank crisis
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Bets that Credit Suisse will default on its debt have hit a record high as pres…