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Investors slash US equity holdings by most ever, BofA survey shows
As the first quarter nears its end, investment in U.S. equities fell by 40% month-over-month in March, marking the biggest monthly drop on record, according to Bank of America's survey.
The survey indicates that 55% of investors believe a trade war could trigger a global recession, the strongest consensus on a risk since April 2020.
Despite declining U.S. allocations, a gauge of insider sentiment showed more corporate insiders are buying, with Moderna's CEO buying $5 million of company stock this month.