--- title: Goldman’s Pasquariello says the tech sell-off raises... description: Hedge funds sold tech stocks at their fastest pace in two years during last Thursday's market rout, Goldman Sachs' Tony Pasquariello told clients. The Nasdaq... canonical: https://daily.dev/posts/goldman-s-pasquariello-says-the-tech-sell-off-raises-doubts-about-ai-stocks-b2tnikjxz twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Goldman’s Pasquariello says the tech sell-off raises doubts about AI stocks | daily.dev og:description: Hedge funds sold tech stocks at their fastest pace in two years during last Thursday's market rout, Goldman Sachs' Tony Pasquariello told clients. The Nasdaq... og:url: https://daily.dev/posts/goldman-s-pasquariello-says-the-tech-sell-off-raises-doubts-about-ai-stocks-b2tnikjxz og:image: https://api.daily.dev/og/posts/b2TnIkjXz.png og:image:alt: Goldman’s Pasquariello says the tech sell-off raises doubts about AI stocks og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Goldman’s Pasquariello says the tech sell-off raises doubts about AI stocks **[The Next Web](https://daily.dev/sources/tnw)** · 2 min read · 0 upvotes · 0 comments ## Summary Hedge funds sold tech stocks at their fastest pace in two years during last Thursday's market rout, Goldman Sachs' Tony Pasquariello told clients. The Nasdaq 100 fell 2.9% that day, and a Goldman index of hedge funds' most popular stocks had its worst day since 2011. Pasquariello said the selloff casts serious doubt on how much investors still believe in the AI trade. He still expects the bull market to continue but with less punch, as Microsoft, Alphabet and Amazon report earnings this week. Goldman projects S&P 500 earnings growth slowing to 18% next year from 29% in 2026. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### Why did hedge funds sell off tech stocks recently? Hedge funds sold tech stocks at their fastest pace in two years during a market rout, according to Goldman Sachs' Tony Pasquariello. The Nasdaq 100 fell 2.9% that day, and a Goldman index of hedge funds' most popular stocks had its worst day since 2011. Pasquariello said the selling casts serious doubt on investor belief in the AI trade. _Anyone weighing AI stock exposure can follow sentiment shifts like this one on daily.dev._ ### What is Goldman's earnings growth forecast for S&P 500 companies next year? Goldman expects S&P 500 company earnings growth to slow to 18% next year, down from 29% in 2026. Tony Pasquariello framed this alongside his view that the bull market should continue but with 'less punch' and more volatility, as heavy AI capital spending faces increased investor scrutiny. _Developers tracking the AI spending cycle can keep tabs on forecasts like this via daily.dev._ ## Similar posts on daily.dev - [From stocks to crypto, markets reel as AI doubts grow](https://daily.dev/posts/from-stocks-to-crypto-markets-reel-as-ai-doubts-grow-wuscja6ia) · TechCentral · 0 upvotes · 0 comments - [AI chip stocks lost 12% in two days as investors hunted new winners](https://daily.dev/posts/ai-chip-stocks-lost-12-in-two-days-as-investors-hunted-new-winners-jgxockyul) · The Next Web · 1 upvotes · 1 comments - [Hedge funds sold chip stocks for a fourth week, but not the AI trade](https://daily.dev/posts/hedge-funds-sold-chip-stocks-for-a-fourth-week-but-not-the-ai-trade-shate1gng) · The Next Web · 0 upvotes · 0 comments - [Goldman Sachs warns of tech bubble](https://daily.dev/posts/goldman-sachs-warns-of-tech-bubble-ncbel8jio) · TechCentral · 12 upvotes · 1 comments --- Tags: [#investing](https://daily.dev/tags/investing) [View this post on daily.dev](https://daily.dev/posts/goldman-s-pasquariello-says-the-tech-sell-off-raises-doubts-about-ai-stocks-b2tnikjxz) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Goldman’s Pasquariello says the tech sell-off raises doubts about AI stocks","url":"https://daily.dev/posts/goldman-s-pasquariello-says-the-tech-sell-off-raises-doubts-about-ai-stocks-b2tnikjxz","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/goldman-s-pasquariello-says-the-tech-sell-off-raises-doubts-about-ai-stocks-b2tnikjxz"},"datePublished":"2026-10-26T17:46:33.132Z","dateModified":"2026-10-26T17:57:00.555Z","description":"Hedge funds sold tech stocks at their fastest pace in two years during last Thursday's market rout, Goldman Sachs' Tony Pasquariello told clients. 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The Nasdaq 100 fell 2.9% that day, and a Goldman index of hedge funds' most popular stocks had its worst day since 2011. Pasquariello said the selling casts serious doubt on investor belief in the AI trade. Anyone weighing AI stock exposure can follow sentiment shifts like this one on daily.dev."}},{"@type":"Question","name":"What is Goldman's earnings growth forecast for S\u0026P 500 companies next year?","acceptedAnswer":{"@type":"Answer","text":"Goldman expects S\u0026P 500 company earnings growth to slow to 18% next year, down from 29% in 2026. Tony Pasquariello framed this alongside his view that the bull market should continue but with 'less punch' and more volatility, as heavy AI capital spending faces increased investor scrutiny. Developers tracking the AI spending cycle can keep tabs on forecasts like this via daily.dev."}}]} ```