A record 74% of fund managers say US tech stocks is the most crowded trade, according to Bank of America survey

A record 74% of fund managers said that US technology stocks are the most crowded trade, according to Bank of America's July survey released Tuesday. Overall, "investor sentiment remains cautious," analysts led by Michael Hartnett wrote. In addition, as many as 52% say that a second wave of COVID-19 cases is the largest tail risk for markets.