Hedge funds slashed bets on European stocks ahead of the latest developments in the Greek debt crisis, a move that has helped them limit the impact of a downturn in the markets. The surprise outcome of Sunday’s Greek referendum sent equity markets tumbling, with the Stoxx Europe 50 shedding about 1.1% Monday. Some investors expect the country’s rejection of terms offered by its creditors will lead to further protracted negotiations, a deeper debt crisis, and, possibly, Greece’s ultimate exit from the eurozone.