NEWS Desk Global
US EQUITY FUNDS SAW LARGEST WEEKLY OUTFLOW IN 18 MONTHS AHEAD OF FED DECISION
U.S. equity funds observed heavy outflows in the seven days through June 12 as some investors booked profits and exercised caution ahead of the Federal Reserve's policy decision. Investors ditched U.S. equity funds worth a net $21.93 billion during the week in their largest weekly net disposal since mid-December 2022.
Despite the Fed leaving interest rates unchanged and tempering expectations for rate cuts this year, the S&P 500 and the Nasdaq Composite both reached record closing highs for the third consecutive session, buoyed by data suggesting inflation is cooling.
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