Shares of banks and other financial institutions fell amid fears that the Federal Reserve would not come to the rescue of the U.S. economy or stock market.
Swiss bank UBS Group agreed to pay $511 million to settle a years long U.S. probe into violations by Credit Suisse of an earlier agreement with the Justice Department over American clients who evaded taxes.
Canadian investment firm Brookfield Asset Management raised nearly $6 billion for its new real-estate fund in the first quarter, one of the largest-ever quarterly fundraising hauls and a sign of growing investor appetite for distressed commercial property.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-06-25 1802ET
