Major World Banks Warn of Billions in Losses Today After They Exit Positions with Large US Hedge Fund
News over the weekend indicates the markets may be in for a wild ride today.
We reported over the weekend that two large US financial institutions reported sales of nearly $20 billion in Chinese Tech and US media companies on Friday:
Now this morning, two massive overseas banks announced their pending record losses:
Credit Suisse and Nomura warned Monday of “significant” hits to first-quarter results, after they began exiting positions with a large U.S. hedge fund that defaulted on margin calls last week.
