How a Social-Media Frenzy Around Credit Suisse Rattled Its Stock

A loud online chorus set its sights on one of Switzerland’s biggest banks in recent days, helping spark wild trading and fanning fears that the institution, Credit Suisse Group AG, was barreling toward financial trouble.

For the bank, and for investors, the fast-spreading rumors served as a reminder of the sway online forums can now exert over financial markets—nearly two years after individual investors banded together on social media to drive shares of GameStop Corp. to gravity-defying highs.

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