EddieJayonCrypto
8 Jan 24
:Goldman Sachs analysts reported that global hedge funds continued to divest from technology stocks for the third consecutive week, marking it as the most net-sold sector. This offloading of technology stocks coincided with a decline in the S&P 500 index and reduced exposure to big tech stocks. Addi...
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Goldman Sachs analysts reported that global hedge funds continued to divest from technology stocks for the third consecutive week, marking it as the most net-sold sector. This offloading of technology stocks coincided with a decline in the S&P 500 index and reduced exposure to big tech stocks. Additionally, the recent week saw a significant decrease in the stock market, with the S&P 500 falling around 1.8% in the past five trading sessions and the Nasdaq 100 dropping more than 3.5% during the same period. This was particularly challenging for the market, and much like how big tech spearheaded the market gains last year, the current losses were once again led by these stocks.
In a recent note, Goldman Sachs analysts said that global hedge funds continued divesting from technology stocks for the third consecutive week, marking it the most net-sold sector. Some funds have also initiated short positions in tech stocks, underscoring a notable shift in sentiment. Global hedge funds offloaded technology stocks last week for a third consecutive week as money managers reacted to recent declines in the S&P 500 index and reduced exposure to big tech stocks, Goldman Sachs wrote in a note. According to the bank, tech stocks were the most net-sold sector in the week that ended January 6, with the hedge funds selling these shares at the strongest pace in 11 weeks.
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