Hedge fund liquidations have reached their highest level since 2009 amid a sharp sell-off in tech stocks, according to financial journalist Charles Gasparino. A CEO of a financial services company confirmed that an increasing number of hedge funds are being wound down, describing the trend as necessary groundwork for a market bottom while warning that additional downside pressure remains. The surge in liquidations has fueled speculation among investors that one or more major hedge funds may be facing significant trouble as volatility continues to impact the broader market landscape.