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FINMA Approves Merger Of UBS And Credit Suisse

The Swiss Financial Market Supervisory Authority FINMA has approved the takeover of Credit Suisse by UBS. FINMA welcomes the takeover solution and the measures taken by the Swiss Confederation and the Swiss National Bank SNB. The transaction and the measures taken will ensure stability for the bank's customers and for the financial centre.

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Dow Tumbles Over 500 Points; US Producer Prices Decline In February

U.S. stocks traded lower this morning, with the Dow Jones dropping more than 500 points on Wednesday. Following the market opening Wednesday, the Dow traded down 1.69% to 31,612.42 while the NASDAQ fell 1.26% to 11,284.65. The S&P 500, also fell, dropping, 1.64% to 3,855.15.

AMBI