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UBS acquiring Credit Suisse has major implications for markets and the US economy.
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Credit Suisse
UBS agreed to buy its biggest rival Credit Suisse for just over $3 billion Sunday.
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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.
US stock futures fell Monday after UBS agreed a deal to take over rival bank Credit Suisse.
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A man walks past an electronic board showing the values of various companies trading on the Tokyo Stock Exchange, along a street in Tokyo on December 7, 2022.
Asian share are steady in early Monday trade.
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Credit Suisse's stock is plunging as investors fear a banking crisis.
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Federal Reserve Board Chairman Jerome Powell arrives at his news conference following the closed two-day Federal Open Market Committee meeting in Washington, U.S., May 1, 2019.
Tech Insider : Economy
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A trader works on the floor of the New York Stock Exchange January 6, 2014.