Credit Suisse share prices tumble; UBS deal fails to restore market confidence

Swiss banking major UBS decided to buy its troubled rival Credit Suisse in $3.3 billion deal. Many expressed confidence that this will go a long way in restoring market confidence. But in early morning trade Credit Suisse shares tumbled down, losing 65% in value. Fall of Silicon Valley Bank and Signature bank last week has sent global banking industry in a tizzy. to stop the panic from spreading further, central banks across Europe, and U.S. Fed have guaranteed lending to all major banks to fight-off liquidity crunch. Will this be enough to restore market confidence? Watch.