U.S. Stock Funds See $8.5 Billion Outflow in Week Ended June 24, Largest Since March

According to Bank of America citing EPFR Global data, U.S. stock funds saw outflows of $8.5 billion in the week ended June 24, marking the largest exodus since March. Tech funds led the withdrawals with a record $9.3 billion outflow, reversing the prior week's $19.2 billion inflows.

The following week ended July 1 saw outflows accelerate to $17.2 billion. Concurrently, investors rotated into fixed income assets, with bond funds attracting $16.6 billion and Japanese equities drawing $1.9 billion, the largest 7-week inflow into Japan. The Philadelphia Semiconductor Index dropped 11% in two recent days amid cooling AI-trade sentiment.