Industry reacts to Archegos meltdown as global banks face billions in losses

Mark Battersby
clock • 3 min read

Regulators across the world are all said to be closely watching events unfold as global banks may lose an estimated $6bn or more from the downfall of Archegos Capital Management. Both Japan's Nomura and Credit Suisse of Switzerland warned of major losses from lending to Archegos for equity derivatives trades, triggering a worldwide sell-off in banking stocks. "This is a challenging time for the family office of Archegos Capital Management, our partners and employees," company spokesperson Karen Kessler said in a statement. "All plans are being discussed as Mr. Hwang and the team deter...

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