UBS, Nomura push global banks' Archegos losses beyond $10 billion

UBS shares fell 3.0% in morning trade.

UBS reported an unexpected $774 million loss on Tuesday from the collapse of U.S. investment fund Archegos, taking the total hit to global banks from the stricken family office beyond $10 billion.
 

The charge taken by Switzerland's biggest bank comes as the fallout from Archegos continues to ripple across the banking industry, with Nomura posting on Tuesday its biggest quarterly loss in over a decade as a result of its dealings with the stricken fund. The Japanese bank said it will book losses of around $2.9 billion this year on Archegos.
 

Morgan Stanley lost nearly $1 billion on the family