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