Meanwhile, across the Atlantic, in Europe, Credit Suisse's share price plummeted after its largest investor said it could not provide the bank with more money. The bank had already suffered multi-billion dollar losses related to the collapse of investment fund Archegos and Greensill Capital. In response, Switzerland's central bank injected $54 billion to shore up liquidity and investor confidence in Credit Suisse, becoming the first major global bank to receive an emergency lifeline since the 2008 financial crisis. Finally, the Swiss rival UBS purchased Credit Suisse for mere $3.25 Bn, a deal that was approved by the Swiss regulators. The contagion also caught Deutsche Bank whose shares plummeted more than 20% in the last week of March 2023. The global financial turbulence led to significant stock market declines, with banking stocks experiencing especially steep drops.