From Investing.com: 2024-08-02 20:45:42

Global hedge funds have increased bearish equity bets due to U.S. economic slowdown fears, with more short positions added than long ones for the third consecutive week, according to Goldman Sachs. Stocks tumbled, with the S&P 500 entering correction territory, dropping 2.43% after disappointing economic data.

Hedge funds reduced exposure in seven global sectors, including financials, industrials, real estate, and energy. Healthcare stocks were sold at the fastest pace in a year as hedge funds continued unwinding risk bets. Fundamental long/short hedge funds experienced their worst day since June 2022, with a 1.8% average performance decline, according to Goldman Sachs.



Read more at Investing.com: Hedge funds grow bearish amid economic slowdown jitters, Goldman says By Reuters