Explained: Why are stock markets still falling and how worried should we be? As concerns ramp up that other lenders worldwide may start to be affected, how worried should we be? Bank shares tumbled further after the UBS takeover of its crisis-stricken rival Credit Suisse on Sunday, dragging markets deep into the red as trading opened on Monday morning. Asian markets initially welcomed the deal, but anxiety soon bubbled to the surface as attentions turned to what happens next and the implications of the emergency takeover. Credit Suisse has had a number of issues over the years, which are well-known to investors, having incurred heavy losses and become embroiled in a string of fraud and misconduct scandals.

Source: Irish Independent March 20, 2023 23:17 UTC