Hedge funds turn the most bearish on stocks this year. Plus, why oil isn’t surging on the latest Middle East tensions

News Snapshot:

Hedge funds globally have turned the most bearish they’ve been on equities this year, as sticky inflation and renewed geopolitical concern have dragged stock markets lower. Short sellers, meanwhile, have been raking it in over the last 30 days. Hedge funds ditched long positions and added short ones across all regions led by North America, Europe, and to a lesser extent developing Asia, Goldman Sachs said in a note to investors this week. A short or bearish position bets that an asset will decline in value, while a long position anticipates a price increase. After ending each of the last...