Global Equity Mutual Funds Cut Tech Exposure Ahead of Major Fed Signals

U.S. and Asia-focused equity mutual funds reduced exposure to large-cap tech stocks last week, preparing for potential Fed policy signals and bond yield volatility. Portfolio managers rotated into defensive sectors such as utilities, consumer staples, and dividend-yielding equities to cushion near-term risk. The shift reflects a broader risk-off stance among global investors amid uncertainty over interest rate direction and the durability of recent AI-led equity rallies.