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business reporter Michael Janda

ASX dives in late afternoon trade as moves to quell banking crisis fail to enthuse investors

Credit Suisse UBS Michael Janda United States Australia

UBS is coming to the rescue of fellow Swiss investment banking giant Credit Suisse. (Reuters: Eduardo Munoz)

Australia was the first major financial centre to react to UBS's takeover of Credit Suisse and coordinated action by central banks to pump more US dollars into the global banking system — and the response was hardly enthusiastic.

Read how it all unfolded on our markets blog for Monday, March 20.

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