Goldman Sachs Sold $ 10 Billion Stocks

Goldman Sachs sold $ 10 billion worth of stocks. Stocks of many companies fell sharply.

Many companies shares fell when Goldman Sachs sold over 10 billion dollars in block sales on Friday. Shares of ViacomCBS and Discovery fell around 27 percent on Friday, while the shares of Chinese Baidu and Tencent, listed in the US, fell 33.5 percent and 48.5 percent from close on Tuesday. According to an email sent to customers, Goldman Sacha sold shares of Baidu, Tencent Music and Vipshop Holding worth $ 6.6 billion before the opening of US markets on Friday. Following this sale, $ 3.9 billion of shares of ViacomCBS, Discovery, Farfetch, iQiyi and GSX Techedu were also sold. As Financial Times reported, Morgan Stanley also sold an additional $ 4 billion in the evening, after selling $ 4 billion of shares earlier on Friday. It is stated that the large amount of securities in block sales are being sold outside the open market with an agreement between the parties, it is stated that Wall Street is teeming with speculation about who might be the mysterious sellers. According to the sources speaking to the Financial Times, it was stated that Goldman made this sale due to the "change in risk perception" in the system.   Source: Bloomberg HT