Tech Funds See Record $4.4B Outflow, BofA Reports

Despite a significant outflow of -$142 million on Monday, the week recorded the third-highest weekly net ETF flow. Tech funds experienced their largest outflow ever, totaling -$4.4 billion, marking the first outflow in nine weeks, as reported by BofA Hartnett. This record outflow from tech stocks, highlighted by BofA as the 'AI Chase Trade Becomes Consensus', has been echoed across multiple reports. Concurrently, US equity markets witnessed the largest inflow into real estate funds since January 2022, alongside the seventh consecutive weekly flow into equities, according to BofA.