After GameStop, Wall Street gears up for second bout against Reddit traders

BOSTON/LONDON (Reuters) – Wall Street is gearing up for another week of market mayhem, with signs that the retail frenzy that pumped up the stock prices of the likes of GameStop Corp and AMC Entertainment Holdings Inc is spreading to other assets.

Some of Wall Street’s largest hedge funds are still licking their wounds after retail traders sought to drive up the prices of stocks that were heavily bet against, resulting in large losses for major investors.

Concerns about the GameStop effect that helped weaken U.S. stocks last week spilled over into S&P 500 futures when trading reopened Sunday night. E-mini futures were down 1.2%, pointing to another down day on Wall Street if losses are sustained into Monday trading.