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Wall Street sell-off spread from retail to hedge funds, Vanda Research strategist says

NewsFeeds update

Wall Street's reaction to the US midterms turned negative within about 24 hours, with selling spreading from retail investors to hedge funds, long-only managers and quant strategies, Bloomberg reported. The Nasdaq 100 fell the most since March 2020 as about $3.7tn of US stock market value was wiped out in a day, and Vanda Research strategist Viraj Patel said retail and systematic investors sold actively.

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The story so far: KOSPI decline led by chipmakers

An AI-led selloff after Democratic US midterm wins hit Asian chip stocks and pushed the KOSPI down over 5%. South Korea's finance minister called an emergency market meeting and exempted broker margin guarantees for three months; the waiver of the 140% margin loan collateral rule now runs three months from 9 November.

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  1. Wall Street sell-off spread from retail to hedge funds, Vanda Research strategist says

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