Tech selloff and hedge fund stress
Tech stocks suffered a third shakeout in weeks while several hedge funds reportedly face losses, withdrawals and closures. Micron is down about 36% from its July close.
What we know
FT calls the latest tech hit the third shakeout in weeks and more worrisome than earlier ones. Kalshi and Solid Intel report hedge fund losses, naming Axebrook and Walleye Capital ($17B, -5.9% in October). An account on X says Micron is in distribution, down ~36% from 1 July. Caleb Franzen notes best days tend to follow the worst and points to a bullish RSI. SoftBank turbine default claim from Musk is unverified.
Sources
“tech stocks are being hit hard — the third shakeout in just the past few weeks”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.