- What’s going on in the stock markets this weekend?
- A massive sale of nearly $20 billion in stocks by Goldman Sachs and Morgan Stanley on Friday are causing market gurus to scratch their heads.
- The RT.com reported today:
Goldman Sachs and Morgan Stanley have reportedly sold $19 billion worth of shares in Chinese tech and US media companies. Traders are now wondering what caused the unusually massive move and whether it will continue next week.
The first batch, that included $6.6 billion worth of shares of Baidu, Tencent Music Entertainment Group and Vipshop Holdings, was sold before the market opened on Friday. Later that day, the bank reportedly managed the sale of $3.9 billion worth of shares in American media conglomerates ViacomCBS and Discovery, as well some other companies, such as Farfetch, iQiyi and GSX Techedu.
Experts are suspicious because of their size and the companies involved.