The Dow Jones Industrial Average finished the start of holiday-shortened week at a fresh all-time high Monday, notching its second record in a row, as investors appeared willing to dismiss volatility sparked by a large investment fund's massive $30 billion margin calls last week that resulted in the unwind of billions of dollars in holdings. The margin event also triggered concern that global banks that dealt with the firm could face sharp losses.
1% at 3,971, narrowly missing a record with a positive finish, while the Nasdaq Composite Index COMP, -0.60% declined 0.6% to end at 13,060. The Wall Street Journal reported that former Tiger Asia manager Bill Hwang’s Archegos Capital Management, sold $30 billion in holdings last week, briefly roiling parts of the market. Credit Suisse Group and Nomura Holdings said Monday that they could incur substantial losses from dealings with a U.S. client. Shares of U.S.
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