Investors have significantly reduced their exposure to U.S. equities

Investors have significantly reduced their exposure to U.S. equities, with allocations to U.S. stocks dropping to 23% underweight, the lowest since June 2023, amid worsening global growth expectations.

Meanwhile, European stocks have outperformed the U.S., with 39% of global investors now overweight on European equities, the highest since mid-2021.