LONDON (Reuters) – Investors dumped technology shares and continued to pour money into investment-grade bonds and equivalents in the week through Wednesday, Bank of America said, citing EPFR data on Friday.
Technology stocks saw $4.4 billion of outflows over the week, the most on record, although it was the first outflow in nine weeks, BofA said in its weekly review of fund flows into and out of global markets.
Cash flow was $32 billion and investment-grade bonds were $13.3 billion, the largest inflow since September 2020, the bank said.