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Hedge funds suffer broadest daily losses since Covid as tech stocks tumble

Reported · Written up by our desk · Equity Funds

Global hedge funds suffered one of their broadest daily selloffs since the Covid pandemic on Thursday, with fundamental, systematic and multistrategy funds all recording losses exceeding 1%, according to a report by Bloomberg citing Goldman Sachs prime brokerage data. Global fundamental long-short equity funds fell 1.4%, their worst session since 16 July, while telecommunications, media and technology-focused managers recorded average losses of 2.7%. Systematic long-short funds declined 1.3%, marking their third-worst session since December 2023, while multistrategy platforms lost 1.9%, their

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