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Alternative Market Briefing

Opalesque Roundup: The VIX spiked 118% as market extended its losses to a new record: hedge fund news, week 06

Monday, February 12, 2018

In the week ending 9 February, 2018, In the on-going Flash Crash, the VIX spiked 118% on Monday as the market extended its losses to a new record, sending the market into another crisis; the Dow Jones industrial average plunged nearly 1,600 while the S&P 500 Index sank 4.1% to wipe out its January gains. Some on Wall Street are blaming the "robots" for the latest flash crash and the biggest Dow Jones drop of all time. Machine-guided funds could cause US stock prices to weaken further as they adjust to the return of wild gyrations in global markets. Others claimed the so-called risk-parity funds which aim to reduce the danger from a collapse are responsible for the market selloff. A number of ETF providers have halted or terminated some VIX products.

BofAML strategists Jill Carey and Savita Subramanian said that their hedge fund clients led the latest rush out of stocks amid the market rout. Brian Belski said this is not 2008" and people are freaking out. Internationally, China and Hong Kong were the hardest hit by the market rout.

Greg Coffey is planning to launch a $2bn hedge fund to......................

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