Hedge funds bet against banks and fintechs as global jitters grow

Global hedge funds sold shares of bank, insurance, fin-tech and trading companies in ​the week to March 13, making financials the most sold stock ‌sector this year, said Goldman Sachs (GS.N) in a note to clients seen by Reuters this week.

Hedge funds “aggressively shorted” global financial stocks last week and the sector was net sold internationally, ​the note said.

A short bet profits when asset values decline.

S&P’s financials index (.SPSY) ​has fallen over...