Bridgewater doubles bet against European stocks to €10bn

The world’s biggest hedge fund firm disclosed short-bets against 28 companies

Short sellers try to profit from declining stock prices by selling borrowed shares and buying them back when they fall.

Ray Dalio’s Bridgewater Associates has built a €10bn ($10.5bn) bet against European companies, almost doubling its wager in the past week to its most bearish stance against the region’s stocks in two years.

The world’s biggest hedge fund firm, which manages $150bn (€143bn) disclosed short-bets against 28 companies that include individual wagers of more than $500m (€476m) against ASML Holding, TotalEnergies, Sanofi and SAP according to data compiled by Bloomberg. The total bet is up from $5.7bn (€5.43bn) against 18 firms last week, the data shows.