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UBS Sees Wealthy Investors Stockpile Cash Before Fed Rate Hikes

Last month’s U.S. stock market rout is making wealthy investors uneasy.

Almost half of high-net-worth individuals globally said they were highly concerned about a market downturn, up from 45% at the same time a year ago, according to a UBS Global Wealth Management survey. The responses were collected from Jan. 4 to Jan. 24 -- a period in which the S&P 500 Index fell as much as 12.4% on an intraday basis. At one point, that was its worst-ever start to a year.