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Bank of America reports largest weekly outflow from U.S. Big Pan stocks in 16 months
Bank of America (Bank of America) said that in the week ending Wednesday, the U.S. big rock stocks suffered the largest weekly outflows since December 2022, traders are worried that the continued high inflation will further promote interest rate cuts, geopolitical tensions also aggravate the cautious mood. Bank of America in the use of EPFR data on the global market capital inflows and outflows in the weekly pan points, said the United States this week, big rock stocks outflow of $ 15.8 billion, the whole stock market outflow of $ 19.6 billion. In the week ending Wednesday, stocks tumbled after stronger-than-expected U.S. inflation data on Wednesday, after Wall Street was thrown into a panic last Thursday by hawkish comments from Federal Reserve officials and a rise in the price of oil to more than $90 a barrel.
LONDON (Reuters) - U.S. big rock stocks suffered their biggest one-week outflow since December 2022 in the week to Wednesday, the Bank of America said, as traders worried that high inflation would further push interest rates down and geopolitical tensions added to caution.
Bank of America, in its weekly roundup of global market inflows and outflows using EPFR data, said that $15.8 billion flowed out of U.S. Big Rock stocks and $19.6 billion flowed out of the entire stock market this week.
In the week ending Wednesday, stocks tumbled after stronger-than-expected U.S. inflation data on Wednesday, after Wall Street was thrown into a panic last Thursday by hawkish comments from Federal Reserve officials and the price of oil rising above $90 a barrel.
(Reporting by Alun John; Editing by Dhara Ranasinghe)
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