The Big Short trader Michael Burry has placed a $1.6bn (£1.25bn) bet that the stock market will crash by the end of the year.
The trader was immortalised on film after he made $2.69bn predicting the 2008 financial crisis.
His firm, Scion Asset Management, has now spent 90% of its funds buying $866m in put options against a fund that tracks the S&P 500 and $739m in put options against a fund that tracks the Nasdaq 100.
