Goldman Sachs: Hedge funds have sold the second largest amount of technology stocks in the last five years

According to Goldman Sachs, hedge funds have offloaded the second largest amount of technology stocks in the last five years, only surpassed by August 2024 in terms of a greater sell-off of stocks. About 75% of the net sales came from major U.S. technology giants.

The Nasdaq 100 has fallen 13% in the last six weeks, leading the losses this quarter. Investor interest in technology stocks seems to be waning, which may have significant implications for cryptocurrency markets, given that technology stocks and cryptocurrencies often show a price correlation.