Stock market news: Traders assess UBS takeover of Credit Suisse

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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