• Stock futures fell on Wednesday as pressure on the financial sector increased with shares of Credit Suisse, a Swiss Bank with large U.S. operations, tumbling more than 20%.
• Futures tied to the Dow Jones Industrial Average fell 534 points, or 1.6%, while S&P 500 futures and Nasdaq-100 futures lost 1.8% and 1.6%, respectively.
• In recent days, a crisis in the financial sector has centered around regional banks as Silicon Valley Bank and Signature Bank collapsed, both casualties of poor management in the face of eight interest rate hikes by the Federal Reserve in the last 12 months. Wednesday morning attention turned to the big banks with shares of Credit Suisse hitting an all-time low.

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