Historic Degrossing: Hedge Funds Dump Most Tech Stock Since Sept 2024

Thursday was a brutal day in markets, with Goldman's Prime Brokerage noting that through early afternoon, the bank's popular HF VIP longs vs. most-shorted names (GSTHVIPP) basket, "finished down ~4.2%, its worst move since 2011, and is now down 10.4% MTD." For context, the only bigger one-day drop on Bloomberg's chart, -8.26%, came on August 8, 2011, the first trading day after S&P downgraded the US.