European banks saw shares decrease as investors' fears about Credit Suisse's financial health grew.
The collapse of US lenders Silicon Valley Bank and Signature Bank coupled with reports of material weaknesses within the bank's controls over its financial reporting raised concerns throughout the global banking sector.
Shares of Credit Suisse fell by as much as 21% prior to the stock exchange operator halting trading on numerous occasions due to a surge in volumes.
Credit Suisse shares closed 20.2% lower than the previous day, which saw the bank fall below 2 Swiss francs for the first time.
Credit Suisse's annual report highlighted weaknesses in the control of its financial reporting, coupled with customer outflows.
According to its largest shareholder, Saudi National Bank, it cannot provide additional support because it would go over the bank's 10% ownership limit.