Finance

Wall Street reels from Archegos fire sale with questions on regulation

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American flags hang from the facade of the New York Stock Exchange (NYSE) building in New York January 28, 2021.

Mike Segar | Reuters

The diverging fortunes of major banks in the fallout from the Archegos Capital Management meltdown has posed serious questions for global regulators, experts have suggested. 

Archegos’ forced liquidation of several of its positions triggered a fire sale of a number of U.S. media stocks last week.

Nomura and Credit Suisse announced Monday that they both expect to suffer “significant” losses, after the multibillion dollar family office defaulted on margin calls last week. Both banks had served as prime brokers to the beleaguered hedge fund. 

However, fellow…



Source cnbc.com

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