Hedge funds piled into tech stocks in the weeks before Nvidia Corp. earnings. Now, they’re cashing out and selling at the fastest pace in seven months.

If the US stock market goes down a little from here, it “could go down a lot.”

The message coming from Wall Street is that investor optimism is running dangerously high.

Not so long ago, families, businesses and governments were effectively living in a world of free money.

A slew of bullish calls on Netflix Inc. from “back on track” to “rise of a new version” by Wall Street brokers confirm that a change in tack and rebound in user growth are likely to set the stock off to a sustainable recovery.

Even as the Federal Reserve jacks up interest rates and sends technology stocks tumbling, it only gets harder to stay away from the sector.

As risks pile up for global equity markets -- from soaring inflation and central bank policy tightening to the economic fallout from Russia’s invasion of Ukraine -- the list of indexes that have fallen into bear market territory is growing.

The tech-heavy Nasdaq 100 Index is showing serious signs of overheating, an indication that a selloff might be right around the corner.

Cathie Wood’s exchange-traded funds sold $66 million of Tesla Inc. shares Tuesday and picked up more Robinhood Markets Inc. as the retail broker’s dismal stock market performance continues.