[Goldman Sachs: Hedge funds sold technology stocks at the fastest speed in two years and AI trading confidence faces a test] On October 27, Tony Pasquariello of Goldman Sachs Group said that when Wall Street suffered the largest sell-off since July, hedge funds sold technology stocks at the fastest speed in two years last Thursday, seriously questioning the market’s belief in this transaction. Pasquariello, head of Goldman Sachs' hedge fund client business, wrote in a note to clients that while the S&P 500 has been range-bound for three months, the apparent calm has masked a "sustained performance pullback" since the end of June as AI trading retreated. Hedge funds have been cutting net and gross exposure to equities for weeks, he said. “Have we seen a capitulation sell-off? It’s impossible to say for sure, but based on all the information I’ve received from my business network and conversations with clients, it feels like the market has indeed been a little shaken,” Pasquariello wrote of last Thursday’s trading.