Bill Hwang loses $8 bn in 10 days amid Archegos' meltdown: Reports

Bill Hwang, the Founder of US-based Archegos Capital Management, suffered a loss of $8 billion in 10 days amid the hedge fund's meltdown, according to reports. The hedge fund was forced to liquidate $20 billion in shares after it made large bets on public stocks and failed to meet banks' margin calls. Several global banks are also facing losses.