Credit Suisse just put $2 billion of Archegos-linked stocks on the market after the hedge fund's meltdown, reports say

• Credit Suisse is still unloading Archegos-linked stocks after the US hedge fund's collapse.
• The lender put up about $2 billion worth of block trades after Tuesday's market close, Bloomberg said.
• Shares in Discovery and Chinese video-streaming website iQIYI were offered at the lower end of ranges.

Credit Suisse put up large blocks of Archegos-related stocks on the market after regular trading on Tuesday, Reuters reported, citing multiple sources.

The stock offerings, including Discovery and iQIYI, amounted to roughly $2 billion, according to Bloomberg.

The Swiss bank isn't yet done unloading stocks linked to Archegos, even though it's already taken a $4.7 billion charge from the hedge fund's collapse last month. Several top executives, including the chief risk officer and investment bank head, are departing following the fund's failure to meet margin requirements.

In late March, Archegos used borrowed money to make large bets on some stocks until Wall Street banks forced it to sell over $20 billion worth of its shares as it couldn't meet a margin call.

JPMorgan said this week global banks are expected to lose up to $10 billion following the fund's implosion.

Tuesday's block trades were offered at a discount to their closing prices. They included 19 million Class A shares of Discovery sold at $38.40, 22 million Class C Discovery shares sold at $32.35, and 35 million shares of Chinese online video-platform iQIYI at $15.85, Bloomberg said, citing one source.

Shares in Discovery and iQIYI fell sharply in after-hours trading on Tuesday. Credit Suisse fell 2% in morning trade on Wednesday.

Credit Suisse last week sold around $2.3 billion in block trades in Viacom, Vipshop, and Farfetch in an attempt to limit further losses from the fiasco.

A spokesperson for Credit Suisse didn't immediately respond to Insider's request for comment.