Goldman Sachs says global equity hedge funds suffered their widest single-day drawdown since the pandemic on Thursday
Goldman Sachs’ prime brokerage division said in a note to clients that global hedge funds suffered their widest single-day drawdown since the pandemic after the equity selloff on Thursday, October 22. “For the first time since the pandemic, all three broad-based equity strategies fell more than 1% on the same day.”
Global fundamental long-short funds closed down 1.4%, their worst single day since July 16; telecom, media and technology-related funds fell an average of 2.7%. Global systematic long-short funds fell 1.3%, their third-worst day since December 2023. Multi-strategy platforms fell 1.9%, their second-worst day since the tariff selloff in April 2025. Bloomberg and Business Times reported the above data.
Original sources:
Title: Hedge funds log widest daily drawdown since Covid in stock rout Publisher: The Business Times Publication date: 2026-10-23 URL: https://www.businesstimes.com.sg/international/hedge-funds-log-widest-daily-drawdown-covid-stock-rout Nature of source: media report Verification status: Relevant passage read for this extraction; accessed on 2026-10-25 Supporting content: Goldman note said the three major strategies each fell more than 1% on the same day; fundamental long-short -1.4%, systematic long-short -1.3%, multi-strategy -1.9%; tech-related funds averaged -2.7%.
Title: Hedge Funds Log Widest Daily Drawdown Since Covid in Rout Publisher: Bloomberg Publication date: 2026-10-23 URL: https://www.bloomberg.com/news/articles/2026-10-23/hedge-funds-log-widest-daily-drawdown-since-covid-in-stock-rout Nature of source: media report Verification status: Relevant passage read for this extraction; accessed on 2026-10-25 Supporting content: Goldman prime brokerage said it was the widest single-day drawdown since the pandemic; all three strategies fell more than 1% on the same day.
ABAB AI Insight
The core fact of this event is that Goldman Sachs’ prime brokerage sent clients a note recording the single-day performance of global equity hedge fund strategies on Thursday. The note said that all three broad-based strategies fell more than 1% on the same day and gave the specific declines for fundamental long-short, systematic long-short, and multi-strategy funds.
The report describes this performance as one of the widest single-day drawdowns since the pandemic and links it to the selloff in tech stocks. The sources verified in this check are media quotations of Goldman’s note; no full original note text or independent fund performance audit data was provided.
This event records the content of the brokerage division’s client note and its media retelling. The next points to watch are whether more brokerage or index data are updated and how the strategies perform afterward.
ABAB News · Law of Cognition
A brokerage division can record in a client note that multiple strategies fell more than 1% on the same day.
Fundamental, systematic, and multi-strategy declines can be listed separately and compared with historical single-day performance.
Single-day performance can be described as the widest drawdown since a specific period and linked to a selloff in a specific sector.