By Liz Moyer
Investing.com -- Stocks shed more than 500 points on Wednesday after renewed fears about a building banking crisis. Here are the midday movers for March 15.
- Credit Suisse Group (NYSE:CS) shares fell 21% after a big investor, the Saudi National Bank, said regulations prevented it from providing more financial backing. That was enough to sink shares of other banks, including First Republic Bank (NYSE:FRC), which was down 20%.
- Halliburton Company (NYSE:HAL) shares fell more than 10% as did those of Marathon Oil Corporation (NYSE:MRO) as the sector felt pressure from falling oil prices. WTI was down more than 6% at midday, while Brent crude fell 6.4%.
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Freshpet Inc (NASDAQ:FRPT) shares fell 2.8% after the activist investor Jana Partners criticized its attempt to raise capital and called for a significant change to the board or a sale of the company.
- Vacasa Inc (NASDAQ:VCSA) shares tumbled 29% after the vacation rental firm reported a bigger fourth-quarter loss per share compared to one year ago and offered a disappointing revenue outlook.
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Charles Schwab Corp (NYSE:SCHW) shares were up 3.3% after falling this week as investors spooked by the banking news dumped shares of financial companies. Company insiders stepped up to buy shares on Tuesday.