Catalan Vote Spurs Spanish Funds’ Worst Week in Two Years

Investors exit exchange-traded funds on region’s independence move

Catalonia’s vote for independence has caused not only political uncertainty in Spain but also a loss of confidence in some markets. Investors pulled out more than $250 million last week from U.S.-listed exchange-traded funds tracking Spanish shares, the largest outflow in two years, even as most European countries had inflows. The iShares MSCI Spain Capped ETF saw its largest ever one-day redemption on Oct. 5.

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