Investors are fleeing U.S. stocks as tariff risks loom

Investors are bailing out of U.S. stocks — big time. 

A new survey from Bank of America shows that global fund managers are moving out of domestic companies in what analysts at the financial giant describe as the "biggest drop in U.S. equity allocation ever." The reason: growing pessimism about the country's economic outlook as the Trump administration beats the drum for a trade war with Canada, Mexico, China and other countries. 

"Peak U.S. exceptionalism is reflected in record rotation out of U.S. stocks," the analysts wrote in a report. Instead, investors with a dimming view of U.S. stocks are increasingly going to cash, buying gold and investing in other parts of the world, including the Eurozone, BofA found.