UBS said it lost $861m following Archegos’s implosion, a bigger hit than analysts expected. Meantime, Japan’s Nomura, which flagged losses of around $2b last month, upped its total damage tally to $2.85b, leading to its worst quarterly performance since the end of 2008, during the global financial crisis. Altogether, the losses of more than $10b make it one of the worst trading incidents in finance in years and have prompted a flurry of regulatory investigations in the U.S. and abroad.