The news comes roughly a year and a half after its disastrous attempt at an initial public offering under since-ousted CEO Adam Neumann. While some of the stocks targeted in the block trades initiated by Goldman Sachs Group Inc. They posted their biggest daily losses ever. Huge RalliesThe possibility of additional block trades still looms over the market, while the traditional end-of-quarter volatility may contribute to sharper swings on high-flying stocks.
ViacomCBS and Discovery have rallied this year.
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The stock fell 9. On Friday, a downgrade by Wells Fargo and the large block trades compounded the selling pressure. The mammoth cargo ship marooned in the Suez Canal has the potential to inflict damage on a global economy still recovering from the COVID pandemic.
China Weekly Briefing
Bloomberg -- Goldman Sachs Group Inc. S, according to an email to clients seen by Bloomberg News. More of the unregistered stock offerings were said to be managed by Morgan Stanley, according to people familiar with the matter, on behalf of one or more undisclosed shareholders. Wall Street is now collectively speculating on the identity of the mysterious seller or sellers. The liquidation triggered price swings for every stock involved in the high-volume transactions, rattling traders and prompting talk that a hedge fund or family office was in trouble and being forced to sell.
CNBC reported forced sales by Archegos were probably related to margin calls on heavily leveraged positions.
Maeve DuVally, a Goldman Sachs spokeswoman, declined to comment. A spokesperson for Morgan Stanley declined to comment. Price SwingsIn block trades, large volumes of securities are privately negotiated between parties, usually outside of open market. The peers later recovered after traders said word of the offerings lessened fears that a broader trade was unfolding throughout the sector.
That late rebound pushed up an index of companies engaged in internet-related businesses in China and the U. For more articles like this, please visit us at bloomberg. The pessimism underscores the mounting difficulties faced by Prime Minister Boris Johnson. Trade data showed EU shipments collapsed in January. Some of the shine is already starting to fade. Data from the Chicago-based Commodity Futures Trading Commission in Washington show investors have started to trim bullish bets on the pound.
China Exchanges Resume Allowing Bitcoin Withdrawals - WSJ
After their long positions hit a one-year high earlier in March, leveraged funds scaled back their wagers for a third-straight week. Even with a Brexit deal and an agreement on financial regulation out of the way, the U. Consumers did return to online and in-store shopping in February after a slump at the beginning of the year, official figures published Friday showed.
Still, the rebound was modest. There are a lot of little bad things in the background that individually have the potential to be pretty systemic.
The unregistered stock offerings were said to be managed by banks including Goldman Sachs Group Inc. The liquidation triggered price swings for every stock involved in the high-volume transactions, while rattling some of their industry counterparts. It also spurred speculation among some traders of forced selling by a fund being liquidated. Goldman Sachs did not respond to a requests seeking comment.
China Exchanges Resume Allowing Bitcoin Withdrawals
Among the affected stocks were Chinese giants such as Baidu Inc. In block trades, large volumes of securities are privately negotiated between parties, usually outside of open market. The morning selloff dragged peers including Alibaba Group Holding Ltd.
Harry Robertson. Rising bond yields have caused investors to second-guess the recent equities rally. Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
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Read the original article on Business Insider. SEE ALSO: The research director at Grayscale breaks down 5 digital tokens other than bitcoin and ethereum that he is newly tracking - and shares 3 emerging opportunities he's monitoring ». Indices in This Article. Dow Jones 33, Currency Exchange Rates.
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One of the industry sources said the decision to resume withdrawals was made after the central bank had signalled that it was not forbidden. BTCChina and OkCoin were allowing customers to withdraw a maximum of 10 bitcoins a day, the source said. It remained unclear when more formal regulation of the industry would begin, the person added. The decision to resume withdrawals comes with the price of bitcoin near an all-time high.