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Wall Street firm: Correction coming, sell stocks

Traders work on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
Traders work on the floor of the New York Stock Exchange.

A top research firm on Wall Street cut its recommended weighting of U.S. stocks to just 45 percent late Wednesday, joining a group of investors who continue to flag stretched valuations.

Here's why strategists are telling clients to reduce exposure to stocks.