Business
Iran War Drives Sizable Hedge-Fund Losses
Some savvy investors suffered big dollar-figure losses last week after the conflict in the Middle East disrupted global financial markets, with oil prices surging and bonds selling off. Citadel, Millennium Management and Point72 were hit by the market fallout, said people familiar with the matter, as were Balyasny Asset Management and ExodusPoint Capital Management.
Millennium and Point72 each lost $1.5 billion, the people said, while Citadel lost about $1 billion in its fixed-income and macro business. Balyasny lost about $1 billion, including $700 million in its fixed-income business, the people said. ExodusPoint lost a couple hundred million dollars on bond-market bets. Read more: