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The logo of Swiss bank Credit Suisse can be seen at its headquarters in Zurich, Switzerland on March 24, 2021.
Arnd Wiegmann | Reuters
JPMorgan analysts say the hard knocks to Nomura and Credit Suisse from the forced sale of a hedge fund client could eat into shareholders’ portfolios.
Reports from CNBC and other outlets have named Archegos Capital Management, a family office run by Bill Hwang, as the party responsible for a massive sell-off of several stocks last week.
These declines came when Archegos was unable to meet its margin requirements, forcing banks to sell blocks of shares and in some cases incur a large loss on trades.
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