Wall Street Falters, Magnificent Seven Hit 7-Month Lows, Gold Rockets On Haven Demand: What's Driving Markets Tuesday?

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Wall Street Falters, Magnificent Seven Hit 7-Month Lows, Gold Rockets On Haven Demand: What's Driving Markets Tuesday? - Benzinga

Quick Summary:

Data from Bank of America's Global Fund Manager Survey, released Tuesday, signaled a significant shift in asset allocation.Investor exposure to U.S.equities plunged 40 percentage points month-over-month to a net 23% underweight, the lowest level since June 2023.

Investors weighed the economic impact of potential tariffs from the Trump administration while questioning whether the long-standing dominance of U.S.equities has peaked.The S&P 500 fell 1.1%, while the tech-heavy Nasdaq 100 dropped 1.5%.

Volatility returned to Wall Street on Tuesday, with all major indexes trading in negative territory by midday in New York.