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Wall Street Firms Plunge Into Europe’s Booming Active ETF Market

(Bloomberg) -- US investment firms are rushing to grab a greater chunk of Europe’s market for active exchange-traded funds, an industry projected to grow to $1 trillion in assets over the coming years.Most Read from BloombergICE Eyes Massive California Tent Facility Amid Space ConstraintsHow Britain’s Most Bike-Friendly New Town Got BuiltThe Dark Prophet of Car-Clogged CitiesWashington, DC, Region Braces for ‘Devastating’ Cuts from CongressNYC Plans for Flood Protection Without Federal FundsJPMo

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'Bull crash' has driven the biggest ever drop in allocation to US stocks: Bank of America

Allocation to U.S. stocks saw the biggest drop ever in March with concerns over stagflation, trade wars and end of U.S. exceptionalism driving a "bull crash" in sentiment, a survey of investors from BofA Global Research showed on Tuesday. Global investors raised their allocation to cash to 4.1% from 3.5%, ending a "sell signal" triggered in December, with the speed of the downturn in sentiment being "consistent with end of equity correction", BofA said. Global growth expectations saw the second biggest drop on record, but, at the same time, allocation to euro zone stocks was the highest since July 2021, with banks becoming the world's favourite sector, according to the survey.

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US Navy Shipbuilder’s Stock Jumps in Sydney as Hanwha Buys Stake

(Bloomberg) -- Shares of Australian shipbuilder Austal Ltd. climbed after a unit of Hanwha Aerospace Co. became a substantial shareholder of the US Navy contractor, as South Korea’s top defense firm attempts to bolster its foothold in America.Most Read from BloombergICE Eyes Massive California Tent Facility Amid Space ConstraintsHow Britain’s Most Bike-Friendly New Town Got BuiltThe Dark Prophet of Car-Clogged CitiesWashington, DC, Region Braces for ‘Devastating’ Cuts from CongressNYC Plans for

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U.S. stocks fall, gold hits record amid Middle East tensions

Wall Street turned lower and gold surged to record highs on Tuesday as Israeli airstrikes on Gaza revived geopolitical jitters and the U.S. Federal Reserve gathered to discuss monetary policy amid growing economic uncertainty. A vote by Germany's parliament to overhaul government spending sent European stocks higher, however, and German shares to near record highs. Even so, all three major U.S. stock indexes were lower in early trading, with weakness in tech-related megacap stocks dragging the tech-laden Nasdaq down the most.

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