NMR - Bank stocks pare declines as investors assess hedge fund collapse

Bank stocks trim their declines as investors digest the news of Bill Hwang hedge fund Archegos Capital collapsing.SPDR S&P Bank ETF (KBE) falls 2.5% to $51.26 in midday trading (New York time); earlier the ETF fell as much as 3.7%.Deutsche Bank (DB), said to be one of the banks involved, falls 3.3%, stemming its decline after a spokesman told Bloomberg via email that it "significantly de-risked our exposure without incurring any losses." He didn't confirm that the matter related to Archegos, but a person familiar with the matter did. DB shares had lost as much as 3.7% earlier.Goldman Sachs (GS), also reported as one of the banks involved, falls 1.9% to ~$321, up from its session low of $317.72; a person familiar with the matter told Seeking Alpha the financial impact on the bank is immaterial due to its risk management techniques.Morgan Stanley (MS), another bank reportedly involved, drops 3.6% to ~$77, up from its

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Bank stocks pare declines as investors assess hedge fund collapse