result of a client's meltdown. Morgan Stanley disclosed to the hedge funds that they would be part of a large margin call that could prevent a client from collapsing. Other banks were not as lucky as Morgan Stanley. Credit Suisse lost $4.7 billion after unwinding Archegos' failed positions...
By the end of the day, almost 90 per cent of stocks on the MSCI All-Country World Index (ACWI) had fallen in an indiscriminate global sell-off. Nvidia — the chipmaker that had single-handedly driven almost a third of the US stock market’s gains in the first half of 2024 — shed ...