Bank of America survey: Global investors sell U.S. stocks at record pace

Planet Daily News: Bank of America Global Research said on Tuesday that global investors have recorded a significant reduction in U.S. stocks over the past two months, believing that the trade war that could trigger a global economic recession is the biggest market risk. In Bank of America's monthly survey of fund managers, the net reduction ratio of U.S. stocks was 36%, the highest in nearly two years, with a 53 percentage point drop in U.S. stock allocation over two months, setting a record for the largest two-month decline. This trend seems likely to continue, as a record number of respondents also indicated their intention to reduce U.S. stock market allocation. Trump's aggressive tariff plans have triggered sell-offs in U.S. assets, including stocks, the U.S. dollar, and U.S. Treasury bonds. The stock market rebounded on Monday, but the S&P 500 index has still fallen by about 8% year-to-date. Bank of America surveyed 164 investors managing $386 billion in assets. (Jintian)