Hedge funds stung by European stock markets in October, Goldman Sachs says

Hedge funds focused on European stock markets suffered their largest monthly losses in over a year in October, dragged down by a broader market sell off, according to a Goldman Sachs note sent to clients on Friday and seen by Reuters on Monday. European stock pickers returned a negative 2.6% in October, their largest monthly loss since September 2023, Goldman Sachs said. The region's broadest index of European stocks fell 3.6% in October during the third-quarter earnings season, which has seen positive results from banks, pharmaceuticals and biotech companies offset by a drag from industrials and energy companies.