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UBS - Why Credit Suisse Stock Plunged 71% in March
UBS Group AG Registered
2023-04-10 22:30:20 ET
Shares of Credit Suisse (NYSE: CS) took a dive as it got swept in the global banking crisis and was forced to sell itself to UBS (NYSE: UBS) in a deal brokered by the Swiss government.
Credit Suisse is still publicly traded as the deal hasn't closed yet, but the stock fell sharply last month, losing 71%, according to data from S&P Global Market Intelligence .
As you can see from the chart below, the stock fell sharply following the collapse of Silicon Valley Bank as problems with Credit Suisse became apparent.