Markets are a chaotic mess.
All after Credit Suisse added to the financial chaos. In fact, according to CNBC, Saudi National Bank, Credit Suisse’s largest investor, said Wednesday it could not provide any more funding, according to a Reuters report. This comes after the Swiss lender said earlier this week it had found “certain material weaknesses in our internal control over financial reporting” for the years 2021 and 2022.”
Until fear subsides, markets are likely to drop even more. Volatility will spike. Fear will dominate. And ETFs like the ProShares Ultra VIX Short-Term Futures ETF (UVXY) should do well as it tracks the Volatility Index.