Futures slip as bank stocks fall on hedge fund default concerns

  • 📰 Reuters
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

U.S. stock index futures dropped on Monday after Wall Street's surge in the prior session as major lenders came under pressure on concerns over possible spillover effects of a hedge fund's default on margin calls.

- U.S. stock index futures dropped on Monday after Wall Street’s surge in the prior session as major lenders came under pressure on concerns over possible spillover effects of a hedge fund’s default on margin calls.

The news has sparked fears that other lenders could be in the process of exiting these positions too. Shares in Discovery Inc rose about 5% after tumbling 27% on Friday, while U.S.-listed shares of Tencent Music rose 4% after nearly halving in value last week. ViacomCBS, Baidu and VIPShop fell between 0.2% and 1.5%.

Wall Street’s main indexes surged over 1% in a late-session rally on Friday as investors looking to rebalance their portfolios at the end of the quarter, piled into economy-linked banks, energy, materials as well as technology names.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines