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Hedge Funds Fell 1% Last Month as Europe Debt Crisis Hurt Stocks

Hedge funds fell 1 percent in November as global stock markets slumped because of growing concern that the European sovereign-debt crisis would spread.

The Bloomberg aggregate hedge-fund index dropped to 116.03 from 117.22 in October, bringing this year’s loss to 3.8 percent. Long-short equity funds, multistrategy funds and macro funds, which bet on global economic trends, declined.