US stocks trade mixed as investors assess banking turmoil after UBS takeover of Credit Suisse

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Stock Trader

Photo by TIMOTHY A. CLARY/AFP via Getty Images)

How bad is the banking crisis?

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People walk by the New York headquarters of Credit Suisse on March 15, 2023 in New York City. After its largest shareholder said it could not provide further support, Credit Suisse shares fell by as much as 30% on Wednesday as global concerns over the stability of major banks continued to spread.
People walk by the New York headquarters of Credit Suisse on March 15, 2023 in New York City.

Spencer Platt/Getty Images

It's official: UBS to acquire Credit Suisse in historic rescue deal

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UBS CEO Ralph Hamers of Swiss bank UBS addresses a news conference in Zurich, Switzerland February 20, 2020.
UBS CEO Ralph Hamers

REUTERS/Arnd Wiegmann

Meet UBS CEO Ralph Hamers, a leader behind Credit Suisse negotiations who opts for open-necked shirts and wants to build 'Netflix of wealth'

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CEO Ralph Hamers of Swiss bank UBS addresses the Annual Meeting of Swiss Financial Institute (SFI) in Zurich, Switzerland November 10, 2022.
CEO Ralph Hamers of Swiss bank UBS addresses the Annual Meeting of Swiss Financial Institute (SFI) in Zurich, Switzerland November 10, 2022.

Arnd Wiegmann/Reuters

The West was founded by whiny pioneers. Silicon Valley Bank is just the latest.

Tech Insider : Economy, Technology
photo composition illustration of Silicon Valley Bank in an Old West environment
Silicon Valley Bank mirrors the myth of the Old West: It started off as a bold pioneer, only to end up running back to the government for help.

Witthaya, aoldman / Getty Images; Arif Qazi / Insider

Banks borrowed a record $153 billion from the Fed as SVB's collapse rocked Wall Street

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Federal Reserve Building
In this May 22, 2020, file photo, a car drives past the Federal Reserve building in Washington.

Patrick Semansky/AP Photo

Fear of financial crisis unleashed chaos across markets this week. These 7 charts show how the shockwaves engulfed stocks, bonds, and commodities.

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Stock traders on the exchange trading floor.
Stock traders

Drew Angerer/Getty Images

How to insure bank deposits beyond the FDIC limit

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Our experts choose the best products and services to help make smart decisions with your money (here's how). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

Ex-Wells Fargo exec who pushed bankers to open fake accounts will plead guilty. She'll pay a $17 million fine — and faces more than a year in prison.

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Wells Fargo
Former Wells Fargo executive is faced with prison time for bank scandal.

Associated Press / Mark Lennihan, File

A Silicon Valley Bank employee attempted to serenade Elon Musk with an Alanis Morissette parody, pleading for the billionaire to buy the failed bank

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Ironic parody
A Silicon Valley Bank employee sang a parody to Elon Musk, pleading for him to buy the bank.

LinkedIn/Mona Maitra

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