U.S. Big Tech still too crowded

News Snapshot:

Stock corrections are often just reality checks that ultimately allow bull markets to live on as investors “buy the dip,” but this time around, global asset managers seem wary of jumping back into Wall Street’s Big Tech behemoths. Investors’ heads may be spinning after a turbulent month of tariff angst, U.S. recession fears, a 10% recoil in the S&P 500 and Europe’s fiscal reboot. The scale of the portfolio upheaval was captured on Tuesday by Bank of America’s monthly fund manager survey. The closely-watched poll of global asset managers showed the biggest one-month reduction in U.S. equity exposure in the...