According to BlockBeats, on September 10, Citigroup strategists believed that the sell-off suffered by the U.S. stock market last week could cause major stock indexes to fall further. Strategist Chris Montagu and others said in a report to clients on Monday that a large number of long positions in the S&P 500 index and an increase in short positions in the Nasdaq 100 index indicated that risk appetite shifted to a more direct bearish tendency.
They said hedge funds’ de-risking of the S&P 500 has left total exposure at half the peak in mid-July. Montagu wrote that forced liquidation of long positions could exacerbate or accelerate the sell-off in the short term, and if the trend continues, Friday’s new short positions are likely to push the tech-heavy index into a net short position. (Jinshi)
