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Crash-Obsessed Stock Hedgers Get Another Session to Crow About

  • Hedge funds raised bets against S&P 500 to highest in 4 years
  • ETFs that gain when volatility rises have attracted cash
RF markets stocks red crash

Source: Getty Images

For the second time in two weeks, bragging rights belong to rally skeptics who have been crowding into trades designed to pay off when the stock market stumbles.

First it was the $2 trillion lost in a near 6% stock swoon nine days ago. Now Wednesday’s, which reached 3% at its worst point. Both drops were big enough to rank in the top 15 of the five years before the Covid crisis happened.