UBS Shares Plunge After 'Emergency Rescue' of Embattled Swiss Rival Credit Suisse

In the wake of the collapse of US banks - Silicon Valley Bank (SVB) and Signature Bank - share prices of Zurich-based corporate bank and financial services giant Credit Suisse tumbled. UBS Group AG then promptly stepped in, offering to acquire the troubled Credit Suisse on Sunday, in a bid to return stability to the banking system.