A little-known hedge fund caused widespread chaos on Wall Street.

The names of the key players are different, but the lessons similar. The spectacular implosion of hedge fund Archegos Capital Management, much like the GameStop saga earlier this year, serves as a reminder of the dangers posed by extreme leverage, secret derivatives and rock-bottom interest rates.
ViacomCBS (VIACA), Discovery (DISCA) and other media titans' stocks crashed Friday as Wall Street banks that lent to Archegos forced the firm to unwind its bets. The epic firesale wiped out more than half of Viacom's value last week alone.
Major banks face billions of dollars in losses from their exposure to Archegos. Both Credit Suisse (CS) and Nomura tumbled Monday after warning of significant hits to their earnings.
The most startling part about the tale of Archegos is that it is a firm that few people had ever heard of before this weekend. And yet in this era of easy money, Archegos was able to borrow so much that its failure created shockwaves large enough to ripple across Wall Street — and impact everyday Americans' retirement accounts.

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Joe Biden announces withdrawal US troops from Afghanistan - Full speech.

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Officer charged with manslaughter in killing of Duante Wright.

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A police officer who authorities say shot and killed a Black man in a Minneapolis suburb after a traffic stop has been charged with second-degree manslaughter, a prosecutor said Wednesday. Brooklyn Center police Officer Kim Potter is charged in Su...

Women detail drug use, sex and payments after parties with Gaetz and others.

Women detail drug use, sex and payments after parties with Gaetz and others.

The first thing some of the women were asked to do when they got to the house parties in the gated community in suburban Orlando was to put away their cellphones, according to two women in attendance who spoke to CNN in recent days. The men inside...

People are moving to this Midwest city for one particularly reason.

People are moving to this Midwest city for one particularly reason.

The climate change is raising a question for millions of Americans: Is anywhere safe from the climate crisis? Some say Duluth, Minnesota, is the new "climate refuge." #ClimateChange #JohnSutter #CNN

Christiane Amanpour looks back at Afghanistan’s wars.

Christiane Amanpour looks back at Afghanistan’s wars.

CNN’s Christiane Amanpour discusses her experience covering wars in Afghanistan as US President Joe Biden prepares to lay out his plan to withdraw US troops from Afghanistan and end America's longest war. #CNN #News