Goldman Sachs said in a report on Wednesday that global hedge funds have reduced their exposure to U.S. stocks for five consecutive days as large-cap technology stocks generally retreated. Goldman Sachs said that the value of stocks sold by hedge funds in the past five trading days was the highest since November 2022, close to a five-year record high. In addition, the report pointed out that hedge funds sold U.S. technology stocks on seven of the past eight trading days. Goldman Sachs said that the information technology industry was the leader in reducing risks, followed by the industrial, health care, non-essential consumer goods and communication services industries.