Reasons for the sharp decline in the US financial sector: UK private credit institution MFS defaults.

On the 27th local time, the financial sector of the US stock market was sold off. By the end of trading, Morgan Stanley's stock price had fallen more than 6%, Goldman Sachs had dropped by over 7%, and Jefferies had plummeted by over 9%. Analysts pointed out that the collapse of the UK private equity credit institution MFS, which was backed by Wall Street, was the main reason for the pressure on the financial sector that day. According to Reuters' report on the 27th, MFS officially entered bankruptcy proceedings this week. Court documents show that the institution may have secretly pledged the same batch of assets multiple times to different loan institutions, resulting in a collateral shortfall of up to 930 million pounds.