Bank of America said on Friday, citing data from EPFR, say that tech stocks saw $4.4 billion of outflows in the latest week, their “largest outflow ever” and the first outflow in nine weeks
- $32 billion of flows into cash
- $13.3 billion into investment grade bonds, the largest inflow since September 2020
Info comes via Reuters, link here
Apple saw very sharp share price losses indeed:
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EPFR (Emerging Portfolio Fund Research) is a company that tracks fund flows and asset allocation data for banks, asset managers, and hedge funds. The data and analysis provided by EPFR are used to monitor investor sentiment and to track where money is moving in the global financial markets, especially across mutual funds and exchange-traded funds (ETFs).