UBS Sees Wealthy Investors Stockpile Cash Before Fed Rate Hikes
This article is for subscribers only.
Last month’s U.S. stock market rout is making wealthy investors uneasy.
Almost half of high-net-worth individuals globally said they were highly concerned about a market downturn, up from 45% at the same time a year ago, according to a UBS Global Wealth Management survey. The responses were collected from Jan. 4 to Jan. 24 -- a period in which the S&P 500 Index fell as much as 12.4% on an intraday basis. At one point, that was its worst-ever start to a year.