Hedge fund liquidations hit highest level since 2009, market may still face downward pressure

Odaily reports: Financial journalist Charles Gasparino posted on X that the recent sharp sell-off in tech stocks has sparked speculation that one or more hedge funds may be in trouble.

Citing an anonymous CEO of a financial services firm, Gasparino said the number of hedge funds being liquidated has reached the highest level since 2009. The person believes this round of market clearing is necessary and that the market is preparing to form a bottom, but it may still need to withstand further downward pressure before that happens.