US Stocks Post First Outflow Since March as Tech Trade Falters

US equity funds saw $8.5 billion in outflows in the week through June 24, the first withdrawal in three months, led by a record $9.3 billion exit from technology funds as the artificial-intelligence trade cools. Investors shifted $16.6 billion into fixed income funds, while European funds posted their 11th straight week of outflows.

Bloomberg -- Investors pulled money from US equities for the first time in three months, with record withdrawals from tech funds signaling that the artificial-intelligence trade is cooling. Most Read from Bloomberg US equity funds shed $8.5 billion in the week through June 24, Bank of America Corp. said in a report, citing EPFR Global data. Technology funds led the retreat, with a record $9.3 billion in outflows. The trend marks a reversal from the previous week, when tech funds had drawn an unprecedented $19.2 billion, the BofA team led by Michael Hartnett wrote in a note. Read: AI Cost Reality Check Hits Asia Tech Stocks as Apple Hikes Price Wall Street has been rattled by a selloff in big technology shares, including a sharp slide in Apple Inc. While memory chipmaker Micron Technology Inc. soothed fears of a tech slowdown with a blowout sales forecast, the S&P 500 index has retreated from record highs hit earlier this month. Equity futures are pointing to another weak open for Wall Street on Friday. Equity funds overall saw outflows, with $5 billion in withdrawals, BofA said, while money market funds shed $25.5 billion. European funds continued to lose popularity, registering their 11th straight week of outflows. Investors shifted instead into fixed income funds which absorbed $16.6 billion, according to the report. Most Read from Bloomberg Businessweek - Canada's Lobster Capital Is Trying to Become an Oil and Gas Giant Too https://www.bloomberg.com/news/articles/2026-06-24/oil-and-gas-production-are-nova-scotia-s-answers-to-weaning-itself-off-us-energy?utm campaign=bw&utm medium=distro&utm source=yahooUS - How Pokémon Cards Became Scarce, Valuable and Surprisingly Dangerous https://www.bloomberg.com/news/features/2026-06-23/rare-pokemon-cards-fetch-millions-three-decades-after-debut?utm campaign=bw&utm medium=distro&utm source=yahooUS - A Landmark Trial Has Oil Bosses Accused of Complicity in War Crimes https://www.bloomberg.com/news/features/2026-06-25/lundin-oil-executives-on-trial-for-alleged-complicity-in-sudan-war-crimes?utm campaign=bw&utm medium=distro&utm source=yahooUS ©2026 Bloomberg L.P.