In this photo illustration the ViacomCBS logo seen displayed on a smartphone.
Rafael Henrique | SOPA Images | LightRocket | Getty Images
Chinese stocks listed in the U.S. fell sharply last week, after several weeks in correction mode.
A trader who participated in some of the wild trading in Chinese internet stocks on Friday confirmed that the primary cause of the selling in Chinese stocks was that a fund, Archegos Capital Management, was forced out of its positions.
Here is the sequence of events, according to the trader, who asked to remain anonymous:
1. The catalyst was ViacomCBS, which did a $3 billion stock offering through Morgan Stanley and J.P. Morgan earlier in the week that fell…