The Globe and Mail reports in its Thursday, May 2, edition that in April, there was a significant decline in the S&P 500 share index and U.S. Treasuries, marking their worst monthly loss since September. A Reuters dispatch to The Globe reports that as a result, money managers are now searching for ways to reduce losses if the trend persists. One possible approach is the restructuring of portfolios that have been buoyed for years by overvalued U.S. equities. Legal & General Investment Management's Sonja Laud says diversification will be a lot more critical going forward. She says LGIM does not expect higher returns from global stocks but now prefers European shares to those from the United States. Amundi's Amelie Derambure notes that she still expects long-term gains from U.S. stocks but has hedged against a 10-per-cent decline by purchasing put options. She has also transferred some cash from Treasuries to euro zone bonds. In April, the S&P 500 dropped by 4.2 per cent. A sharp fall in Facebook owner Meta's shares in April highlighted the risks of hoping for stellar tech earnings in an environment where rates stay high. Until recently, markets had expected the Fed to start cutting in June.