UBS and Credit Suisse fall on the stock market after learning of an investigation by the US Department of Justice.

Swiss banks UBS and Credit Suisse fall more than 7% at mid-session today on the Zurich Stock Exchange, in line with the declines in the sector in the neighboring German market of Frankfurt, where Deutsche Bank and Commerzbank show considerable drops.

To this is added that the United States Department of Justice is investigating whether employees of Credit Suisse and UBS, among other entities, helped Russian oligarchs evade sanctions imposed after Russia invaded Ukraine, according to Bloomberg.

Before the outbreak of the war, recalls the same medium, Credit Suisse was known for its links with Russian clients that led it to manage more than US$60,000 million, which reported an annual income of between US$500 million and US$600. millions.

The shares of UBS, which had stabilized in recent days after a start to the week of great ups and downs, now fall 7.57% in Zurich and are placed at 16.55 Swiss francs (16.76 euros).

Those of Credit Suisse, which in its financial and image crisis have lost almost 90% of their value in the last 12 months, are down 7.79% today and stand at 0.74 Swiss francs (0.75 euros ).

On the Frankfurt stock market, Deutsche Bank and Commerzbank fell by around 14% and 9%. respectively, as a consequence of the recent turmoil in the sector (symbolized by the collapse of the US Silicon Valley Bank and Signature Bank and Credit Suisse) and the uncertainty about the evolution of interest rates, recently increased in the US, the EU and Swiss.

With information from EFE