(CNBC) A massive margin call affected a little-known family office last Friday, incurring billions of dollars in losses for certain banks involved and jolted the overall volatility of the broader market. Archegos Capital Management’s leveraged bets in ViacomCBS blew up and ignited a whopping $20 billion wave of forced liquidations at a slew of Wall Street banks, some of which face losses that could be “highly significant.”
Meet Bill Hwang, the man behind Archegos, the fund that sent shockwaves through Wall Street
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