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LONDON - Hedge funds globally have turned the most bearish they've been on equities this year, a Goldman Sachs note said, as sticky inflation and renewed geopolitical concern have dragged stock markets lower.
The U.S. S&P 500 stock index is down roughly 4% so far in April, Europe and China indices have fallen about 2% each. Consumer discretionary stocks, where companies produce nice-to-haves such as luxury goods, appliances and automobiles, drew the most shortsellers, the note said.
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