Swiss bank UBS revealed on April 27 that it lost $774 million from last month's implosion of Archegos Capital Management.
Mandatory Credit: Fabrice Coffrini/AFP/Getty Images
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Wall Street's losses on Archegos just topped $10 billion
Losses caused by the collapse of US hedge fund Archegos have topped $10 billion. Swiss bank UBS revealed on Tuesday that it lost $774 million from last month's implosion of Archegos Capital Management, a bigger hit than many analysts expected. The announcement came as Japan's Nomura said it would book losses of $2.9 billion from Archegos, a sharp increase from its initial estimate of $2 billion.
