Investors are sending up a big danger signal about technology stocks

External View of the Apple store on Fifth Avenue on August 19, 2020 in New York City.
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Professional investors are sending up a warning sign on the technology stocks that have helped power Wall Street back into a bull market.

Respondents to the September Bank of America Fund Manager Survey, a closely watched barometer of how market pros view the investing landscape, flagged technology specifically as a danger sign for stocks that have seen meteoric gains off the March 23 pandemic lows. Managers also sent signals about shifting allocations and their views on a new bull market and the economy.