According to ChainCatcher, Bank of America Global Research said on Tuesday that global investors have recorded a significant reduction in U.S. stocks over the past two months, believing that the trade war that could trigger a global economic recession is the biggest risk facing the market.

In Bank of America's monthly survey of fund managers, the net reduction ratio of U.S. stocks was 36%, the highest in nearly two years, with a 53 percentage point drop in U.S. stock allocation over two months, creating a record two-month decline. This trend seems likely to continue, as a record number of respondents also indicated their intention to reduce U.S. stock allocation. Trump's aggressive tariff plans have triggered a sell-off of U.S. assets, including stocks, the U.S. dollar, and U.S. Treasury bonds. The stock market rebounded on Monday, but the S&P 500 index is still down about 8% year-to-date. Bank of America surveyed 164 investors managing $386 billion in assets.