Global banking crisis: One big problem down. Too many others left to go

Credit Suisse, hobbled for decades by mismanagement, scandal and bad bets, finally succumbed to the emerging global banking crisis. Its stunning and rapid takeover by rival UBS, orchestrated by Swiss authorities Sunday, took one giant, wobbling domino off the table. Hours later, a group of central banks from around the world boosted the movement of US dollars through the global financial system to keep loans flowing to households and businesses and support the world's major economies.

News: What you need to know about the markets     Global banking crisis: One big problem down. Too many others left to go Credit Suisse, hobbled for decades by mismanagement, scandal and bad bets, finally succumbed to the emerging global banking crisis. Its stunning and rapid takeover by rival UBS, orchestrated by Swiss authorities Sunday, took one giant, wobbling domino off the table. Hours later, a group of central banks from around the world boosted the movement of US dollars through the global financial system to keep loans flowing to households and businesses and support the world's major economies. Read more »   Amazon to lay off 9,000 more workers Amazon is cutting 9,000 more jobs, CEO Andy Jassy announced Monday in a memo to staff. Read more »   What are AT1 bonds and why are Credit Suisse's now worthless? Investors in a riskier type of Credit Suisse's bonds had their holdings slashed to zero Sunday after Swiss authorities brokered an emergency takeover of the bank by rival UBS. Read more »   Starbucks' new CEO steps in two weeks early Starbucks' new CEO Laxman Narasimhan has taken over the reins from interim CEO Howard Schultz, about two weeks sooner than planned. Read more »   Silicon Valley Bank left a void that won't easily be filled It's difficult to overstate the influence that Silicon Valley Bank had over the startup world and the ripple effect its collapse this month had on the global tech sector and banking system. Read more »   Asia Pacific markets dip after UBS rescue of Credit Suisse Asia Pacific markets edged slightly lower on Monday morning as investors reacted to news of a Credit Suisse bailout by its bigger rival UBS. Read more »

Dow Nasdaq S&P +382.60   +45.02   +34.93 32,244.58   11,675.54   3,951.57 +1.20%   +0.39%   +0.89% YTD -2.72%   YTD +11.55%   YTD +2.92%

Biggest Winners NRG Energy Inc +6.83%   Fleetcor Technologies Inc +6.35%   Assurant Inc +5.98%   Lincoln National Corp +4.93% Biggest Losers First Republic Bank -47.11%   Paycom Software Inc -2.37%   FedEx Corp -1.85%   Ceridian HCM Holding Inc -1.80%

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Key Market Stats Latest Today's Change Oil $67.61 +0.87 / +1.30% Gold $1,983.10 +9.60 / +0.49% 10-yr 3.48% +0.09 Euro $1.07 +0.00 / +0.38%

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