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March 15 Reuters European shares fell on Wednesday as bank stocks resumed their selloff, after a shortlived bounce in the previous session, with Credit Suisse plunging to a fresh record low.

The panEuropean STOXX 600 index fell 2.5 by 1118 GMT, languishing at 10week lows, as was the banks sector index after plunging nearly 6.

The bank index is set to lose more than 120 billion euros 127.26 billion in market value since the close of March 8.

Spain and Italy39;s lenderheavy indexes fell almost 4 each.

Shares of Credit Suisse fell below 2 Swiss francs 2.18 after the lender39;s biggest shareholder said it could not raise its 10 stake, citing regulatory issues. The market regulator halted trading in the stock several times as volumes soared and the stock plummeted.

There was also a cooling of optimism that the U.S. Federal Reserve will tone down its ratehiking spree next week in the aftermath of Silicon Valley Bank39;s SVB collapse.

It doesn39;t feel as if SVB at the moment is deflecting central banks, or at least the Fed from it39;s designed to keep pressing hard against inflation, said Russ Mould, investment director at AJ Bell.

Some of that earlyyear optimism that we would get a cooling in inflation .. and that we get a pivot in rates … might not come to pass.

All eyes will now be on the…