This article draws on an extended ethnographic study of European financial markets to examine how organizations deal with the conjugated effects of successive crises. While the literature on organization and management theory has predominantly used causation and effectuation logics to make sense of strategic decision making under uncertainty, there is still limited knowledge on how businesses traverse from one crisis to another with little congruence in their nature and scale, despite the fact that such situations appear frequently, and that they threaten their very existence. Our article aims to bridge this gap by shedding light into whether, which and how one or more of these decision-making logics align better with businesses facing such consequent crises.