Odaily Planet Daily News: Bank of America Global Research announced on Tuesday that global investors have significantly reduced their holdings of US stocks in the past two months, setting a record. They believe that the trade war that triggered a global economic recession is the biggest risk facing the market. In the monthly survey conducted by Bank of America on fund managers, the proportion of respondents who net reduced their allocation to US stocks was 36%, the highest level in nearly two years. Within two months, their allocation to US stocks decreased by 53 percentage points, setting a historical record for the largest decline in two months. This trend seems to continue as a record number of respondents also expressed their intention to reduce their allocation to the US stock market. Trump's radical tariff plan triggered the sell-off of US assets, including stocks, US dollars and US treasury bond bonds. The stock market rebounded on Monday, but the S&P 500 index is still down about 8% so far this year. Bank of America conducted a survey of 164 investors managing $386 billion in assets. (Golden Ten)
