Credit Suisse Reports Huge Loss

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On Thursday, Credit Suisse announced a huge loss in the fourth quarter, the largest in seven years.

The bank reported a loss of about $5.75 billion, and shares of the company went down as much as 12 percent.

The loss was mainly due to a write-down of 3.8 billion francs, after the bank reassessed the value of its investment bank.

Image via Flickr/Credit Suisse

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