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Global markets advanced after Credit Suisse announced that it’ll borrow up to nearly $54 billion from the Swiss National Bank to assure short-term liquidity. Despite concerns weighing on the banking sector, all three US indexes closed in the green, on pace to end the week higher. The Nasdaq was up the most, rallying 2.5%.
Investors also followed the announcement of a further rate hike of 50-basis points from the European Central Bank.
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