Bridgewater's bearish bets on European stocks jump to $10.5 billion - Bloomberg News
Reuters
Published Jun 23, 2022 09:38AM ET
(Reuters) - Bridgewater Associates has raised its short position on European stocks to $10.5 billion, nearly doubling from the previous week, according to a Bloomberg News report on Thursday, in a sign the hedge fund was increasingly bearish on equities in the continent.
Bridgewater disclosed short bets against 28 companies that include individual wagers of more than $500 million against ASML Holding (NASDAQ:ASML) NV, TotalEnergies SE, Sanofi (NASDAQ:SNY) and SAP SE (ETR:SAPG), according to data compiled by Bloomberg.
Last week, Bridgewater's bet against European stocks was at least $6.7 billion, according to data group Breakout Point.
It is not clear, however, if those positions are a hedge against other bets. Bridgewater did not respond to Reuters' emailed request for comment.
The hedge fund giant, famous for making money during the 2008 financial crisis, is betting against European stocks at a time when monetary policy tightening around the world to curb surging inflation has raised fears of a sharp slowdown.
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Written By: Reuters
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