Wall Street traders and brokers are scrambling to minimise the fallout from a ransomware attack on China’s biggest bank, which disrupted trading in the $25tn market for US Treasuries.
The attack on a New York unit of the Industrial and Commercial Bank of China, first revealed by the Financial Times on Thursday, has exposed vulnerabilities in the Treasury market, the world’s biggest and most liquid, which underpins asset prices around the globe.
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