US Tech Funds See Record $15B Outflow in a Week

US technology sector funds recorded $15 billion in outflows for the week, the largest weekly withdrawal in at least 2.5 years, according to recent data. This figure is more than double the previous record outflow over the same period.

The dramatic reversal follows a record $19 billion inflow in the prior week, which was also the largest in at least 2.5 years. The extreme volatility in fund flows suggests aggressive profit-taking by investors.

Broader US equity funds also saw $8.5 billion in outflows, the largest weekly withdrawal in three months, following a record $119 billion inflow. Despite this, year-to-date US equity funds have attracted $332 billion in inflows, representing half of the $661 billion total across all developed markets.