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- US stocks were mixed as traders assess the impact of UBS' takeover of Credit Suisse.
- First Republic Bank fell 16% as S&P Global cut its credit rating yet again.
- Morgan Stanley's Mike Wilson said bank turmoil marks the start of a "vicious" end to the bear market.
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.
On Sunday, UBS bought its smaller rival for $3.25 billion at the urging of regulators eager to shore up confidence in the country's banking system.