European Bank Shares Drop Following UBS’s Purchase of Credit Suisse
According to recent news, the purchase of Credit Suisse by its Swiss rival UBS for $3 billion has resulted in a sharp drop in European bank shares, with UBS down by 13%. This purchase was made at a fraction of Credit Suisse's market value before the weekend, and its failure was seen as a significant event in a crisis of confidence in the banking sector, which also saw the collapse of Silicon Valley Bank in the US. However, despite […]
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