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Jesse Cohen: Hedge funds cut tech stock exposure at fastest pace since 2016

Jesse Cohen: Hedge funds cut tech stock exposure at fastest pace since 2016
Hedge funds trim tech exposure rapidly

Hedge funds reduced their exposure to technology stocks at the fastest pace since at least 2016 during the five sessions ending October 15, according to a report from Goldman Sachs.

Jesse Cohen, identified as a Senior Markets Analyst at Investing.com, shared the report and emphasized the rapid speed of the tech stock sell-off by hedge funds.

Cohen has previously highlighted other significant market moves in Asia. He noted a nearly 4 percent overnight decline in South Korea's Kospi Index in a recent report. In a separate update, Cohen covered SK Hynix's 10% share drop, which wiped out $85 billion in market value due to concerns over Chinese competition earlier this year.

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