UBS Chairman Colm Kelleher is seen on a giant screen delivering a speech during the annual general meeting of Swiss banking giant UBS in Basel, on April 15, 2026. (Photo by Fabrice COFFRINI / AFP via Getty Images)

UBS Chairman Colm Kelleher delivers a speech during the annual general meeting of Swiss banking giant UBS in Basel, on April 15, 2026. (Photo by Fabrice COFFRINI / AFP via Getty Images)

UBS CEO Sergio Ermotti gestures during the annual general meeting of Swiss banking giant UBS in Basel, on April 15, 2026. (Photo by Fabrice COFFRINI / AFP via Getty Images)

A crane loads cargo onto a ship at a port in Zhangjiagang, in China's eastern Jiangsu province on April 15, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT

A crane loads cargo onto a ship at a port in Zhangjiagang, in China's eastern Jiangsu province on April 15, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT

Trucks loaded with containers drive through a port in Zhangjiagang, in China's eastern Jiangsu province on April 15, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT

Workers load cargo onto a ship at a port in Zhangjiagang, in China's eastern Jiangsu province on April 15, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT

A worker loads cargo onto a ship at a port in Zhangjiagang, in China's eastern Jiangsu province on April 15, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT