Hedge funds using computers to sell up to $30 billion of stocks soon - UBS

LONDON, Oct 2 (Reuters) - Hedge funds using computers to trade equities are expecting to start selling to the tune of $20 billion to $30 billion in the next two weeks given retreating stock markets, a UBS (UBSG.S) note seen by Reuters shows.

Hedge funds using algorithms to follow market trends have turned neutral from bullish on stocks, the UBS note said.

The bank anticipates as much as $30 billion of outflows will soon hit markets, potentially exacerbating the downward move in shares, as these hedge funds start selling stock...