MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Stocks Sour on Small-Cap Turmoil, Hedge Funds Squeezed

EQUITIES

The S&P 500 fell sharply Wednesday, with the index dropping over 2.5% as turmoil in smaller-cap stocks undermined investor confidence that had resulted in new all time highs earlier in the week.

The e-mini S&P shed close to 100 points, narrowing the gap with the 50-dma support at 3706.10, a level not broken since late October.

Rallies in some of the most-shorted stocks in the US including Gamestop, AMC and BlackBerry resulted in further pain for short-selling hedge funds. This raised speculation that these funds could be forced to bailout of longs among the larger-cap names in order to finance margin calls and other loss-making positions.

Communication services and consumer discretionary names were hit the hardest, but all sectors traded lower Wednesday.

Homepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.