Hedge funds set the largest single-day sell-off record since 2010, close to the 2008 Lehman crisis

According to The Kobeissi Letter's analysis, hedge funds are fleeing on a large scale. On Thursday alone, hedge funds sold $40 billion in stocks, setting the record for the largest single-day sell-off since 2010. Short selling on Thursday was three times that of long positions, with North American stocks accounting for 75% of total trading volume. The previous record was set during the 2008 Lehman crisis when $28 billion was sold in a single day, which is equivalent to about $42 billion today after adjusting for inflation. During the COVID-19 impact in 2020, there was a net sell-off of $52 billion in one week.