The bank estimated on Thursday that quantitative hedge funds lost around 1.3 per cent that day, their worst day in more than six months.
Equity markets have risen sharply so far this year, led by many of the speculative stocks that were clobbered hardest during 2022’s global sell-off.
On Wednesday the US Federal Reserve raised interest rates by a quarter of a percentage point, a smaller move than its series of large hikes last year, which raised hopes that borrowing costs may soon peak.
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