Investment dips to four-year low

Investors have cut back their holdings in stocks to the lowest level in at least four years, Reuters polls showed a sharp reaction to the threats of rising inflation and slowing economies.

Polls of 50 leading investment firms in the United States, continental Europe, Japan and Britain showed the average equity holding in a mixed portfolio of assets dropped to 56.9 percent in June from 59.5 percent in May.

It was the lowest level since at least April 2004, when Reuters began combining the results of its four regional polls.