What factors caused the stock prices to plummet?

In today's stock trading session (March 16), all 25 listed industry groups simultaneously declined by 0.5%-2.7%.

Last night, news that Silicon Valley Bank (SVB) and Signature Bank were in crisis may have spread to Credit Suisse (Switzerland), causing investors to sell off shares , leading to sharp declines in the US and European stock markets.

Following this information, Vietnamese stock investors are somewhat uneasy, so they are accepting selling shares at low prices to recover their capital.

This situation persisted throughout today's stock trading session (March 16). As a result, all 25 listed sectors on all three exchanges (HoSE, HNX, and UpCom) simultaneously declined by 0.5%-2.7%, with the wholesale sector experiencing the largest drop.

At the close of trading, the VN-Index on the HoSE exchange lost 14.7 points, falling to 1,047 points. Only 55 stocks rose, while 358 declined; trading volume reached only 532 million shares, a decrease of nearly 100 million compared to the previous session.

On the Hanoi Stock Exchange, the HNX-Index also fell 2.8 points to 204 points. The UpCom exchange dropped 0.5 points to 76 points.

Thanh Cong Securities Company (TCSC) noted that the unexpected events surrounding Credit Suisse on the evening of March 15th caused a negative reaction in global financial markets. The Vietnamese stock market was no exception to this trend. Selling pressure continued to come primarily from retail investors.

"Currently, the full impact of the Credit Suisse case has not been assessed, so investors should exercise caution in the upcoming trading sessions," TCSC advised.

Meanwhile, VCBS Securities Company recommends that investors continue to observe the market for 3-5 more sessions, waiting for a clear trend signal in the stock market.

Text and photos: Thy Thơ

Source: https://nld.com.vn/kinh-te/tap-doan-credit-suisse-chao-dao-co-phieu-dao-chieu-do-lua-20230316170735889.htm