Middle East conflict triggers market volatility, causing losses of hundreds of millions of dollars for some of the world's largest hedge funds.

Hedge funds including Citadel, ExodusPoint Capital Management, and Millennium Management all recorded losses last week, with declines ranging from 1.1% to 3.7%. Citadel's flagship fund Wellington lost 2% last week, with significant damage to its macro business. According to sources, the fund had accumulated a 2.9% gain before the end of February this year. ExodusPoint's multi-strategy fund gave back all its gains for the year last week, with sources stating that the fund had accumulated a 2.6% gain in the first two months of the year.