Stock Markets in UK and Asia Fall Despite Credit Suisse Acquisition

Despite the swift action by regulators, stock markets in the UK and Asia fell.

London’s FTSE 100 index was down 1.6% in early trading, while Japan’s Nikkei 225 lost 1.4%.

The Hang Seng Index in Hong Kong fell 2.6%.

Shares in British banks were also hit in London trading, extending losses from last week, which was their worst weekly performance in more than a year.

Shares in UBS were down 12% following its acquisition of Credit Suisse.

However, experts are not forecasting a repeat of the 2008 financial crisis when the failure of several big banks sparked a global recession.

The Swiss National Bank said the rescue deal for Credit Suisse was the best way to restore financial markets’ confidence and manage econom