Coatue Hedge Fund plummets 8%, marking the largest monthly decline in over a year.

The hedge fund under Coatue Management plummeted 8.3% in July, becoming the latest fund management company focused on technology to experience severe turbulence due to a sharp sell-off of artificial intelligence stocks. According to insiders, the fund's return year-to-date remains at 14.3%. This loss marks the worst monthly performance in over a year for the fund managed by Philippe Laffont. As of March 31, the company's four major long positions in the U.S. market all suffered double-digit declines in July.