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Hedge funds suffer worst daily losses since Covid as tech rout deepens

Global hedge funds suffered their steepest daily losses since the Covid-era market turmoil as a renewed selloff in technology stocks triggered widespread deleveraging and forced managers to unwind crowded AI-related positions, according to a report by Reuters. All three major hedge fund strategies tracked by Goldman Sachs – fundamental equity long-short, systematic and multi-strategy – fell more…

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