BofA Strategists See Wall Street Rout Forcing Asset Sales
(Bloomberg) — Spiraling losses on Wall Street are now snowballing into forced asset liquidation, according to Bank of America Corp. strategists.
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The NYSE Composite Index, which includes US stocks, depositary receipts and real estate investment trusts, has broken multiple technical support levels including its 200-week moving average, the 14,000 mark, as well as 2018 and 2020 highs. Now accumulated losses could be forcing funds to sell more assets to raise cash,…