一场以科技股为首的残酷全球股票抛售，抹去了许多对冲基金今年以来的收益，同时迫使部分管理人削减风险敞口并缩减投资团队。
A brutal global equity selloff led by technology stocks has wiped out year-to-date gains at many hedge funds, while forcing some managers to cut risks and reduce investment teams.
中期选举后的反弹行情昙花一现。周四的市场暴跌加剧了整个行业的亏损，专注于科技板块的基金首当其冲。
The post-midterm relief rally proved short-lived. Thursday's market rout compounded losses across the industry, with tech-focused funds bearing the brunt.
高盛的估算显示，主要投资科技股的股票多空基金当日下跌逾4%，导致全年回报“大致持平”。
Equity long-short funds that primarily invest in tech fell more than 4% on the day, leaving returns for the year "roughly flat", Goldman Sachs estimates showed.
这与6月触及的24%峰值涨幅形成对比，彼时尚未出现由人工智能驱动的抛售潮。
That compares with a peak gain of 24% in June before the AI-driven selloff.
据该行数据，全球基本面多空管理人平均下跌1.3%，而多策略管理人周四下跌1.4%。
Global fundamental long-short managers were down 1.3% on average, while multi-strategy managers dropped 1.4% on Thursday, according to the bank.
这轮行业阵痛的中心是管理规模达170亿美元的对冲基金Walleye Capital。
At the center of the industry's latest pain is $17 billion hedge fund Walleye Capital.
总部位于纽约的这家多策略基金在周四致投资者的一封信中表示（路透社获悉信件内容），将精简其内部股票多空业务，并大幅削减股票投资团队。
The New York-based multi-strategy fund said in an investor letter on Thursday, seen by Reuters, that it would trim its internal equity long-short business and reduce a substantial portion of its equity investment team.
信中称：“在一个本已充满挑战的2026年，继自2020年3月以来最差的一个月表现之后，我们对公司的方方面面进行了深刻审视。我们评估了基金的最优规模，并计划返还一部分资本。”市场参与人士表示，近几周已有多家大型多策略对冲基金平台削减杠杆并裁撤亏损团队，他们预计如果跌势持续，还将出现更多裁员。
"Following our worst month since March 2020, in an already challenging 2026, we have taken a hard look at every aspect of our firm," the letter said. "We have evaluated the optimal size of the Fund and plan to return a portion of our capital." Several large multi-manager hedge fund platforms have cut leverage and laid off loss-making teams in recent weeks, said market participants, who expect more layoffs if declines continue.
美国中期选举后的市场动荡延续了此前一个惨烈十月的跌势，当时市场情绪因高企的AI相关借贷成本和对回报的担忧而受挫。
The post-US midterm market turmoil extended losses after a bruising October, when sentiment was dampened by elevated AI-related borrowing costs and worries over returns.
包含众多科技巨头的纳斯达克100指数（.NDX）上月暴跌6.6%，录得18个月来最大单月跌幅。摩根大通估计，全球对冲基金10月亏损3%。
The Nasdaq 100 index (.NDX), which contains many tech heavyweights, plunged 6.6% last month, its biggest monthly fall in 18 months. JPMorgan estimates global hedge funds lost 3% in October.
高盛全球银行与市场部合伙人兼董事总经理John Flood在周四的一份报告中表示，在美国中期选举前的大规模去风险操作导致许多对冲基金追逐周三的反弹行情，结果第二天却被套牢，方向判断错误。
Massive de-risking ahead of the US midterms left many hedge funds chasing Wednesday's relief rally, only to be caught wrong-footed a day later, John Flood, partner and managing director in the global banking and markets division at Goldman Sachs, said in a note on Thursday.
他说：“对冲基金正在卖出它们刚买入的市场板块（超大规模云服务商）。”
"Hedge funds are selling back pockets of the market (hyperscalers)" that they had just bought, he said.
研究机构PivotalPath在本周的一份报告中警告称，该机构观察到前十大多策略对冲基金之间存在高度且不断增加的重叠，这意味着它们的平仓可能会波及许多相同的证券。
Research firm PivotalPath warned in a note this week that the firm observed a high and increasing degree of overlap among the 10 largest multi-strategy hedge funds, meaning their unwind could fall on many of the same securities.