Bank of America: U.S. stock market sees largest fund outflows in three months

CoinFeed July 3 news, Bank of America said investors are selling U.S. stocks at the fastest pace since March. A team led by Michael Hartnett cited EPFR Global data in a report, pointing out that in the week ending July 1, U.S. equity fund outflows reached as high as $17.2 billion. Investors are turning to some international stocks, with the Japanese stock market seeing the largest inflows in seven weeks, reaching $1.9 billion. U.S. stock fund inflows were strong earlier this year, but market sentiment is shifting. Last week, U.S. stock funds saw their first redemptions in three months. This week, doubts about high valuations for artificial intelligence continue to hit chip stocks, with the Philadelphia Semiconductor Index falling 11% over the past two days.