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'Wall of Worry' Rebuilt

Investors withdrawing money from U.S. stocks and holding cash, as some industries lose the most market cap since 2008.

By Lu Wang, Bloomberg | Updated on May 19, 2014

Investors are losing their nerve in the stock market amid selling that has sent some industries down the most since 2008. In the past, that’s been a signal to buy.

Global money managers raised cash holdings to a two-year high this month and say America is the worst place to invest, a Bank of America Corp. survey published last week shows. Investors have pulled about $10 billion from funds that buy U.S. equity this month, set for the biggest outflows since August, according to data compiled by Bloomberg and the Investment Company Institute.

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