Hedge funds are dumping stocks at a rapid pace as President Donald Trump’s aggressive tariff agenda spiked volatility on Wall Street. These professional traders have net sold global equities for six weeks in a row, with last week’s notional de-grossing amount reaching the largest level since July, according to data from Goldman Sachs’ prime brokerage unit. The cohort has been particularly fleeing high-flying technology names, offloading shares at the fastest pace in six months. The selling last week was also the second largest notionally in the last five years, Goldman’s data suggested. .SPX YTD mountain S & P 500 Bank of America trading desk also flagged bearish sentiment among hedge funds and other money managers. “Sentiment in all conversations is pretty bearish. It seems like long/short books are very tight, from a risk/exposure perspective. Long Onlies seem very defensively positioned,” BofA trading desk said in a note to clients Monday. “The mood is very very cautious.” Hedge funds were retreating at a time when the macroeconomic environment suddenly grew less certain. President Donald Trump ‘s aggressive tariff charges on imports into the U.S. stoked fears of dampened consumer spending, slower economic growth and even a recession. Investors are bracing for Trump’s Wednesday imposition of reciprocal tariffs on “all countries .” The White House has already slapped punitive tariffs on aluminum, steel and autos, along with increased tariffs on all goods from China. Earlier this month, the S & P 500 dipped into correction territory, or falling 10% from its recent peak. The benchmark is now trading 9.5% below that record high from February. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles, and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!