Asian stocks fall after Wall St sinks on new bank fears

Asian stock markets have tumbled after Wall Street sank as a plunge in Credit Suisse shares reignited worries about a possible bank crisis following the failure of two U.S. lenders. Shanghai, Tokyo, Hong Kong and Sydney slid as Asian bank stocks fell. Oil prices edged higher. Wall Street’s benchmark S&P 500 lost 0.7% following a 30% plunge in Credit Suisse’s share price. That fueled jitters about global banks that are under strain from interest rate hikes to cool inflation. Credit Suisse said it would borrow up to $54 billion from Switzerland's central bank to shore up its finances.