Even before the US midterms, the AI trade was weakening. Just look at all the headlines from October in the hedge fund world — it was one of the bloodiest periods the industry has faced in recent memory. Now, after the blue wave, things continue to look uncertain.
Source: [Bloomberg Markets](https://www.bloomberg.com/news/audio/2026-11-11/odd-lots-the-perfect-storm-that-clobbered-hedge-funds-podcast)