Business & Finance
US Stocks Post First Outflow Since March as Tech Trade Falters
Key Points
US Stocks Post First Outflow Since March as Tech Trade Falters Investors pulled money from US equities for the first time in three months, with record withdrawals from tech funds signaling that the artificial-intelligence trade is cooling. US equity funds shed $8.5 billion in the week through June 24, Bank of America Corp. said in a report, citing EPFR Global data. Technology funds led the retreat, with a record $9.3 billion in outflows.
US Stocks Post First Outflow Since March as Tech Trade Falters
Investors pulled money from US equities for the first time in three months, with record withdrawals from tech funds signaling that the artificial-intelligence trade is cooling.
US equity funds shed $8.5 billion in the week through June 24, Bank of America Corp. said in a report, citing EPFR Global data. Technology funds led the retreat, with a record $9.3 billion in outflows.