Market Watch: Investors just pulled a massive $17.5 billion out of global equities. They're just getting started, says Bank of America
Article by Barbara Kollmeyer in Market Watch
Are the bears just getting started?
That’s a question posed by strategists at Bank of America, who noted Friday that investors pulled $17.5 billion out of global equities over the past week, making for the biggest weekly outflow so far this year.
They cautioned that those outflows could well deepen.
Investors also pulled $8.7 billion out of bonds and $55.4 billion from cash, pouring $900 million into gold.
The S&P 500 has slumped more than 7% year-to-date, with the Nasdaq Composite showing a loss of near 16%.
Breaking down some of the equity outflows, Bank of America strategists noted data showing .......
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