"Ray Dalio's Bridgewater Associates is wagering nearly $6 billion that European stocks will fall. That makes the world's largest hedge fund the world's largest short seller of Euro equities. All in all, Bridgewater has 18 active short bets against European companies, including a $1 billion position against semiconductor company ASML Holding and a $752 million bet against oil and energy company TotalEnergies SE"

What is the thesis here?