Mid-session market 03/15: Credit Suisse on the verge of collapse, FRC downgraded to "junk" by S&P

Fear sentiment continues to return in the morning across both stock and bond markets, dragging Dow Jones and S&P 500 down more than 2% right from the opening while the oil market also faces extreme pressure from investors with funds moving into precious metals and US Treasuries bonds seeking safe haven, pulling the short-term yield curve below the level indicating recession.