US hedge fund reportedly defaulted on margin calls, forcing a fire sale of about $20bn worth of stocks
Investment banks Nomura and Credit Suisse have warned they are facing “significant” losses after a US hedge fund reportedly defaulted on margin calls, forcing a “fire sale” of an estimated $20bn (£14.5bn) worth of stocks that threatens to ripple across global markets on Monday.
Credit Suisse shares plunged 14% in early trading on Monday, while in Japan Nomura shares closed down more than 16%.
Continue reading...from US news | The Guardian https://ift.tt/1Zwv3jN
