The Bank of America (BofA) weekly report on Friday reported that investors had withdrawn the US $ 25.8 billion in equity funds this week as of Wednesday. Withdrawal of this amount is the third-largest asset outflow.
According to BofA analysts based on data this week until September 23, investors withdrew their capital from various sectors after experiencing a fall following Covid-19.
Technology stocks have experienced an outflow of $ 1 billion, the largest amount since June 2019. Blue-chip shares lost $ 11.6 billion. The S&P 500 exchange has lost 7.2% so far in September, its first negative monthly performance since March. On the other hand, the Nasdaq exchange has lost more than 10%.
Adding to the findings of the BofA study, the volatility in the stock exchange in September was a correction in the market due to the mid-year crisis phase.
Another big move in investment flows this week was the result of bond funds having experienced their biggest outflow since March with a loss of $ 5.4 billion.
The market now continues to focus on economic development as the presidential election draws near.
