With the takeover of Credit Suisse by UBS, a banking giant is created in Switzerland. The markets remain nervous and worry about contagion effects on other banks.
First the bankruptcy of the Silicon Valley Bank (SVB), then the turbulence of smaller banks in the USA, and now at the weekend the takeover thriller in Switzerland: the banking sector and the financial markets are not coming to a rest. Some are concerned about further contagion effects.
Source: Stern
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