Global Economic Outlook Turns Dim: Investors Sell Off US Stocks

A recent survey from Bank of America paints a gloomy picture for the global economy, revealing that 82% of surveyed fund managers expect a weakening global economic outlook – the highest level seen in over three decades. Furthermore, a staggering 42% believe there’s a strong chance of a recession. This bleak outlook has also prompted investors to significantly reduce their holdings in U.S. stocks as they seek stability amid uncertain market conditions.