• Hedge Funds

Citadel and Marshall Wace see bets against airlines pay off as virus spreads

Hedge funds were probably among the few winners in Monday’s markets, which were spooked as new coronavirus cases emerged outside China

A South Korean elderly woman wearing mask to prevent the coronavirus (COVID-19) walks along the street at a traditional market on February 24, 2020 in Seoul, South Korea

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A group of hedge funds shorting European airlines were probably among the few winners in Monday’s markets, as the spread of the deadly coronavirus outside China left global stocks in the red.

European markets have been falling as large numbers of new cases of Covid-19, which originated in China late last year, emerge in other parts of the world. An outbreak in Italy over the weekend has led to the government putting towns in the northern Lombardy region into lockdown.

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