Goldman Sachs Group Inc liquidated US$10.5 billion worth of stocks in block trades as part of a selling spree that erased US$35 billion from the values of stocks of major companies, Bloomberg News reported on Saturday.
The bank sold US$6.6 billion worth of shares of Baidu Inc, Tencent Music Entertainment Group and Vipshop Holdings Ltd, before the U.S. market opened on Friday, the report said, citing an email to clients seen by Bloomberg News.
Following this, Goldman sold US$3.9 billion worth of shares in ViacomCBS Inc, Discovery Inc, Farfetch Ltd, iQIYI Inc and GSX Techedu Inc, according to the report.
Source: Channel News Asia
By Bloomberg
