Market Extra: Rush to cash biggest since Brexit, 9/11

Wall Street investors appear to be taking a more bearish stance, at least as measured by their flight into cold hard cash.

According to Bank of America Merrill Lynch’s most recent monthly survey of fund managers, the proportion of investors rushing to cash hit 5.8% in October, up from 5.5% in the prior month, as investors grow more bearish on stocks and favored cash over ultralow yielding fixed-income securities.

The last time investors were in cash to this degree was after the U.K.’s June 23 vote to end its European Union membership, which roiled global markets. The period after the terrorists attacks of Sept.

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