$50 Billion Hole Grows as Carnage Strikes European Stock Funds
- Region’s equity funds lose $4.8 billion, most in 27 weeks
- Sentiment ‘very slushy’ on Europe stocks, Barclays’ Hobbs says
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The U.S. market led last week’s equities turmoil, but unloved European stocks still managed to stand out -- in a bad way.
European equity funds lost the most money in 27 weeks, bleeding $4.8 billion in the five sessions ended Oct. 17, a period that includes last week’s global market carnage, according to Bank of America Merrill Lynch, which cited EPFR Global data. In contrast, Japanese and emerging-market stock funds managed to attract investor money.