US Equity Outflows Hit Record $13.9B, Led by Tech Stocks
Last week saw $13.9 billion in US equity outflows, the largest single-stock withdrawal since 2008, with technology stocks leading at a record $10.8 billion in sales.
Investors cashed in gains aggressively last week, pulling $13.9 billion from US equities, driven entirely by single stocks. Single stock outflows reached $14.2 billion — the largest weekly withdrawal in data going back to 2008.
Equity ETFs bucked the trend with $300 million in inflows, marking the 11th straight week of positive intake. However, technology stocks bore the brunt of the selling, with $10.8 billion in outflows — the highest weekly sale on record for the sector.
As a percentage of the S&P 500 technology sector's market cap, this was the largest sale since 2014. The data points to accelerating profit-taking among investors.
Source: The Kobeissi Letter