sell off

Though Mr Adani denied the claims, the allegations triggered a market sell-off and an ongoing investigation by India's market regulator, SEBI.

The roughly $90 billion sell-off has helped drag the broader S&P 500 into the red, after the chip-making behemoth posted third-quarter results that merely beat — but didn’t crush — Wall Street’s sky-high estimates.

When Archegos was unable to repay its lenders, it prompted a mass sell-off of stocks and the fund quickly collapsed in less than a week, making it one of the largest hedge fund collapses since the 2008 financial crisis.

The claims, which Mr Adani denied, prompted a major market sell-off.

The news prompted a sell-off across the industry.