Historic Carnage: Worst Day For Hedge Funds Since The Covid Crash

One wouldn't know it from the cheerful close in the S&P, which added a decent 22bps by 4pm ET, but below the surface Tuesday was one of the worst days for various hedge funds on record!

As Goldman Prime Brokerage specialist Kartik Singhal writes (note available to pro subscribers), entering the afternoon stretch, Goldman was tracking Fundamental Long/Short funds down 1.3%, Systematic L/S down 1.0% and Multi-Strats down 1.7%.