UBS's Credit Suisse Takeover Sparks Market Rally and Controversy.
TL;DR Summary
UBS has agreed to buy Credit Suisse for $3.24 billion, causing UBS shares to rise 5% and Credit Suisse American depositary receipts to crash 54%. Meanwhile, First Republic Bank plunged 20% after a credit rating downgrade. The Federal Reserve's two-day meeting kicks off Tuesday, with views on the probable rate strategy vacillating. The stock market ended the week on the ropes amid a painful bear attack on quadruple-witching day.
Topics:business#credit-suisse#federal-reserve#finance#first-republic-bank#stock-market-correction#ubs
- Dow Jones Rallies On Credit Suisse Deal; First Republic Plunges 20% On Credit Downgrade Investor's Business Daily
- Credit Suisse Takeover by UBS Is a Bailout: El-Erian Bloomberg Television
- UBS is buying Credit Suisse in bid to halt banking crisis CNN
- What You Can and Can't Criticize UBS For on Credit Suisse Bloomberg
- Credit Suisse AT1 Bondholders Find Out Life's Unfair Bloomberg
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