Recent data indicates a notable trend in U.S. stock market activity, with clients at Bank of America recording their largest net sale of U.S. stocks since August 2023. Net sales reached $5.8 billion, marking the first instance of net selling in eight weeks. This trend was echoed by foreign investors, who sold U.S. stocks at the fastest pace in two years, with total outflows nearing $6 billion. This level of foreign selling is comparable to the outflows seen during the pandemic crash in 2020 and the banking crisis in 2023. Institutional and hedge fund clients also contributed to this selling trend, marking their first net sales in two weeks and the sixth consecutive week of net selling overall.