(Bloomberg) — An extraordinary spree of block trades on Friday erased $35 billion from the values of bellwether stocks ranging from Chinese technology giants to U.S. media companies.

The unregistered stock offerings were said to be managed by banks including Goldman Sachs Group Inc. and Morgan Stanley, according to people familiar with the matter, on behalf of one or more undisclosed shareholders. Some of the trades exceeded $1 billion in individual companies, calculations based on Bloomberg data show.

The liquidation triggered price swings for every stock involved in the high-volume transactions, while rattling some of their industry counterparts. It also spurred speculation among some traders of forced selling by a fund being liquidated.

A spokesperson for Morgan Stanley declined to comment. Goldman Sachs did not respond to a

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