Goldman Sachs has taken a major financial hit after the implosion of Silicon Valley Bank and other embattled lenders prompted market chaos this week, according to a report Friday.

One of the Wall Street giant’s trading desks that makes bets on interest rate products has lost approximately $200 million since SVB failed late last week, the Financial Times reported, citing people familiar with the matter.

Goldman’s losses coincided with increases in bond prices, which spiked as banking sector turmoil raised the likelihood that the Federal Reserve would need to slow down or pause its interest rate hikes.

The potential for eased monetary policy hurt firms that have made bets that rates would rise due to lingering inflation.

Treasury yields plunged, hammering funds that expected them to rise before the bank turmoil changed the market’s outlook.

“What’s hurt a lot of people in macro [bets on global bonds and currency moves] is that everyone was positioned for rates rising,” a hedge fund industry insider told the FT.

Goldman Sachs participated in a $30 billion rescue of First Republic.

Goldman Sachs declined to comment on the FT’s report.

Other firms that took losses included hedge fund Man Group, which lost 10.6% from its $5.4 billion Evolution fund and 7.1% from its Dimension fund, according to the report.

Systematica Investments also took a 10% hit to its holdings through Monday.

The banking sector faced lingering concerns about contagion Friday due to trouble at regional lender First Republic and Swiss banking giant Credit Suisse.

Goldman Sachs was one of 11 banks that participated in a $30 billion rescue of First Republic — contributing $2.5 billion in deposits as part of an effort to shore up its balance sheet.

Nevertheless, First Republic’s stock plunged 30% in trading Friday in a sign investors are skeptical that the rescue will stave off further volatility.