Goldman Sachs was forced to pump more than $1.8bn into two of its own funds last week after investors rushed to redeem money amid the Covid-19 panic in global markets.

Goldman Sachs Bank USA purchased $1.45bn worth of securities from the Goldman Sachs Financial Square Money Market fund and an additional $391m from the Goldman Sachs Financial Square Prime Obligations fund. The purchases were conducted over 19 March and 20 March, according to a person familiar with the matter.