Hedge Funds Sell Off Tech Stocks in Major Market Drop

Hedge funds have engaged in a substantial sell-off of global technology stocks this week, marking the largest event since August 2024, according to BlockBeats. U.S.-based tech shares accounted for a significant share (75%) of these net sales. This rapid market movement contrasts with earlier stages of the 2022 bear market where such an aggressive divestment wasn’t witnessed. The tech sector has been a key driver of recent market decline, with the Nasdaq 100 Index dropping 13% over the past six weeks.