Fund selectors are pulling back from US shares as increasing uncertainty over the outcome of the presidential election adds to fears equity valuations are looking overstretched.
Concerns are escalating over a potential victory for ultra-conservative Republican candidate Donald Trump, who currently has a commanding lead in his party's primaries, with his 737 delegate votes closing in on the 1,237 needed for a presidential nomination. Gary Waite, portfolio manager of Alpha:r2 at Walker Crips, said confidence in Democratic frontrunner Hillary Clinton has been diminished, with a recent YouGov poll suggesting Trump's national support has grown from 44% to 53% since February. "Hardly anyone would have anticipated Trump becoming the Republican frontrunner even a few...
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