According to a survey conducted by Bank of America among fund managers, professional investors continue to reduce their stakes in technology stocks. In particular, net investment in the technology sector fell to its lowest level since August 2006. Over the past month, investing in tech stocks has fallen to its lowest in nearly 16 years as investors brace for aggressive Fed tightening. Generally, higher interest rates are negative for high-priced tech stocks, which are valued for future growth expectations. At the same time, investments in shares of banks and energy companies rose to the highest level since 2005. In general, the share of investments in shares fell from 55% in January to 31% in February. It is noted that about 30% of surveyed investors expect negative dynamics in the stock market in 2022 due to a slowdown in economic growth and fears of raising interest rates by world central banks. 40% of survey participants believe that stocks from developing countries will bring the highest returns in 2022. Investors also highlighted a number of risks, in addition to tightening the Fed's monetary policy. Here is the risk of inflation acceleration, and the collapse of asset bubbles, as well as the development of a recession in the global economy and the escalation of geopolitical conflicts.
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