Algernon Pharmaceuticals Inc (AGNPF)

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Investors pull $30 billion out of stocks in 2nd-largest weekly outflow on record: BAML

In the week ended on Wednesday, investors withdrew nearly $30 billion from global equity funds, which was the second largest weekly outflow on record, the BAML analysts said in a Friday note.

The biggest chunk of equity outflows came from U.S. equity funds, where investors withdrew $24.2 billion over the past week, the third largest outflow ever.

Investors took $3.9 billion out of European equities, while Japan saw inflows of $2.6 billion.

Outflows came from all styles of stocks: growth, value, large-cap and small-caps, BAML said. Only two categories saw inflows: tech stocks and cash. Tech funds saw $19 billion of inflows, compared with $9 billion outflows from all other sector funds. Meanwhile, money-market funds took in $27 billion over the last week.

www.marketwatch.com/story/investors-pull-30-billion-out-of-stocks-in-2nd-largest-weekly-outflow-on-record-baml-2018-06-29

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