Internet reports that the world's largest financial institutions are reducing their holdings of US dollar assets and increasing investment in European markets. Data shows investors are withdrawing from U.S. stock and bond markets on a massive scale. This long-term trend of divestment is influenced by political chaos in Washington, declining confidence in the Federal Reserve and the latest tariff dispute initiated by Trump. The U.S. dollar has lost more than 7% since January, and traders are now watching for signs of a shift to safer European investments such as German bonds. According to a Bank of America survey, investors made the largest reduction in U.S. equity holdings in March in history, turning to Europe at the fastest rate since 1999. Multinational pension funds are leading this wave of divestment. Veritas Pension Insurance Company of Finland, UniSuper Fund of Australia and Pension Fund of Denmark have all reduced their holdings of U.S. assets. BNP Paribas head of strategy said that if European pension funds reduce their exposure to U.S. assets to 2015 levels, it would mean selling off 300 billion euros in US$-denominated investments.