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Hedge funds and banks are scrambling to recruit traders capable of profiting from wild price swings in metals, currencies, and equities as extreme volatility grips global markets. The hiring push comes as major hedge funds suffered their worst single day in nearly a year on Wednesday, caught off guard by an AI-driven technology selloff that wiped billions from portfolios.

Multi-strategy fund companies are particularly focused on hiring specialists in volatility arbitrage, a strategy that profits from the gap between expected and actual market swings, according to a report from Jin10 cited by Binance. Tony Ernest, managing partner at hedge fund recruitment firm Monroe Partners Asia, said these traders have been "highly successful in recent days". 🍊