Latecomers to 40% Tech Stock Rally Arrive in Time to See It Fade
- Investors boosted exposure to stocks as winning streak ended
- ‘Fear of being fired’ may be price for bears on sidelines
This article is for subscribers only.
They waited and waited, then moved all-in. And now money managers who are finally surrendering to a shock first-half rally in equities must contend with the possibility its best days are over.
Just as a measure of investor exposure to equities jumped to the highest since April 2022, concern about a fickle Federal Reserve and widening recession fears halted the S&P 500’s longest weekly winning streak since 2021. The benchmark index slipped 1.4% over the four days, while the Nasdaq 100 lost 1.3%.