US stocks were mostly higher on Monday following a takeover deal of Credit Suisse by UBS over the weekend in an effort to calm concerns of a global banking crisis.
"With the takeover of Credit Suisse by UBS, a solution has been found to secure financial stability and protect the Swiss economy in this exceptional situation," the Swiss National Bank said in a UBS stock was up 8% in the US, while Credit Suisse's US-listed shares dropped by 50% in morning trades.
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Stock market news: Dow falls 400 points after UBS's Credit Suisse dealDow sinks as much as 400 points as UBS's Credit Suisse rescue deal fails to ease US banking crisis fears
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Live updates: Credit Suisse-UBS deal and global stock market newsGlobal markets are falling despite coordinated action by the Federal Reserve and other leading central banks to keep dollars flowing around the financial system after banks collapse. Follow the latest updates here 👇 Χρειάζεται περισσότερος έλεγχος στα golden boys. 10+ years of Fed QE and bank deregulation exposed too much risk in our financial system. Irresponsible borrowing to lift stock prices by both banks and corporations will bring everything down. This could see crypto become the leading global currency whether that is BTC, ETC or something else 🤔 FFTB
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