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BofA Says ‘Appalling’ Mood Fuels $11 Billion US Stocks Exodus

  • Inflation, war, tightening among headwinds for risk assets
  • BofA’s own bull-and-bear indicator falls back to zero
Bloomberg business news
Advisors Capital's Feeney on Markets, Strategy

Investors are rushing out of US equities as the likelihood of an economic downturn increases amid a myriad of risks, according to Bank of America Corp. strategists.

The nation’s stock funds had outflows of $10.9 billion in the week to Sept. 7, according to EPFR Global data cited by the bank. The biggest exodus in 11 weeks was led by technology stocks, which saw withdrawals of $1.8 billion. Global equity funds had outflows of $14.5 billion, while $6.1 billion was poured into government and Treasury bonds, the data show.