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Money Managers Bracing for Upheaval With Stocks Near Record

  • One sees ‘massive disconnect between fundamentals and markets’
  • Closed schools, inflation, regulation are potential triggers
U.S. Stocks Fluctuate As Investors Keep An Eye On Washington
Photographer: Michael Nagle/Bloomberg

Some of the biggest money managers are vexed by the same paradox troubling everyone else: U.S. stocks are near an all-time high, but the world still seems to be falling apart.

Any number of looming threats could bring the historic rally in U.S. equities to a screeching halt, top hedge fund and mutual fund managers said. They include uncertainty over school re-openings, the November elections, tensions with China and the effect of monetary policy on inflation.