The rest of the world is running from US stocks like it’s 2008
JAMIE MCGEEVER, REUTERS
BusinessInsider.com
MAY 19, 2015
LONDON (Reuters) – International investors slashed their exposure to U.S. equities in May to its lowest in over seven years, while maintaining the euro zone as their leading stock market destination, a closely watched survey said on Tuesday.
Driven by worries about a string of disappointing U.S. economic indicators and the strength of the dollar, global investors cut their allocation to U.S. stocks to 19 percent underweight from 12 percent underweight the month before.
That’s according to the monthly Bank of America Merrill Lynch survey of 169 fund managers who run $479 billion of funds, which was conducted May 8-15, and comes just as the S&P 500 <.SPX> hits record highs.
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