HEDGE FUNDS LOADED UP BEFORE FRIDAY SELLOFF Hedge funds bought global equities at the fastest pace in four months through June 4, according to Goldman Sachs Prime desk data, with North America and Asian emerging markets leading inflows. Consumer discretionary stocks were bought for a fifth straight week, and nine of 11 sectors saw net purchases. Days later, U.S. markets sold off sharply, with the Nasdaq down 4.2%, the S&P 500 falling 2.6%, and the Dow losing 1.4%.(*Walter Bloomberg)