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Amundi ($2.4T AUM), Europe’s largest asset manager, plans to reduce its exposure to U.S. markets over the next 12 months, according to the Financial Times. $0G

The move signals a potential portfolio rebalancing away from U.S. assets, which could reflect valuation concerns, geopolitical considerations, currency dynamics, or diversification strategies. $DYM

If other major institutions follow, it could impact U.S. equities, bonds, and capital flows, especially amid already heightened global market volatility.