CNN BUSINESS | Wall Street’s losses on Archegos just topped $10 billion

London (CNN Business) – Losses caused by the collapse of US hedge fund Archegos have topped $10 billion.

Swiss bank UBS (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 (NMR) said it would book losses of $2.9 billion from Archegos, a sharp increase from its initial estimate of $2 billion.  —read more; watch—