Harman Worldwide
The specter of upper borrowing costs prompted merchants to rethink their long-held affection for tech corporations. The rush for the exits created bother for hedge funds whose concentrated bets on speculative software have been nonetheless elevated even after unwinding some of those positions late final year. On Tuesday, Goldman’s long-short fund purchasers suffered their worst alpha drawdown, or below-market returns, in a year. The hammering in technology stocks that started to unfold into the broader market Wednesday is being fueled by one of the most intense bouts of promoting by professional speculators for the reason that monetary disaster. The reasons …