Investors Pull $6 Billion from US Equity Funds Amid Economic Concerns, Fueling 6-Week Outflow Streak

Investors withdrew $5.96 billion from US equity funds for the 6th straight week amid economic concerns.
Outflows were driven by weak services data from China and Europe and rising US yields.
Large-cap funds saw $3.96 billion in outflows, while mid, small, and multi-cap funds also had outflows.
Communication services, consumer staples, and metals & mining funds faced the largest equity outflows.
Money market funds had $32.18 billion of inflows, while bond funds saw $622 million in outflows.

reuters.com

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9/22/2023

Stocks See Highest Outflows of 2022 as Investors Flee on Rate Fears

Investors withdrew $19 billion from the stock market, the highest outflow of the year, as rising bond yields and uncertainty about interest rates raised concerns of a market bubble, according to Bank of America, warning that the situation could lead to a difficult 2024.