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Data from Goldman Sachs' Prime Brokerage unit shows that hedge funds are reducing their holdings in tech stocks at the fastest pace in at least a decade. Over the five trading days ending October 15, the extent to which hedge funds cut their positions in tech stocks marked the largest since Goldman Sachs began tracking in 2016. Meanwhile, a report from Goldman Sachs' Global Banking & Markets division noted that overall trading activity declined at the fastest pace in nearly three months. Hedge funds chose to sell amid a global slump in tech stocks, with the AI-themed trade receding globally. The Nasdaq 100 index fell 5.5% last week, its biggest drop since April 2025. During these five trading days, tech stocks were the worst-performing sector in the MSCI Global Index.
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