Hedge funds reduce US stock exposure for five consecutive sessions, impacting tech, industrial, healthcare, consumer discretionary, and communications services.
Goldman Sachs reports that hedge funds have reduced exposure to US stocks for five consecutive trading sessions, with the largest stock sell-off since Nov 2022. Sectors impacted include tech, industrial, healthcare, consumer discretionary, and communications services. The move follows the Nasdaq's worst drop since 2022, with tech stocks sold in 7 out of 8 sessions.
July 17, 2024
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