FILE PHOTO: Traders work on the ground of the New York Stock Exchange (NYSE) in New York, U.S., March 11, 2019. REUTERS/Brendan McDermid
NEW YORK (Reuters) – U.S. buyers ended their longest shopping for streak since October by pulling cash out of home stock mutual fund and exchange-traded funds final week on international considerations about financial progress in Europe, in line with Investment Company Institute knowledge launched on Wednesday.
Overall, U.S. buyers pulled a internet $2.64 billion out of home stock funds in the course of the week ended March 6, after pumping in a internet of $four billion the week earlier than.
The shift pushed complete internet outflows from U.S. stock funds to $13.5 billion over the 9 full weeks of 2019 thus far, regardless of a broad market rally that has pushed the benchmark S&P 500 index up 12.three % for the yr thus far.
World stock funds misplaced a internet of $1.13 billion for the week. For the yr up to now, buyers have despatched a internet of $eight.5 billion into shares outdoors of the U.S. market.
Both taxable and municipal bond funds continued to draw internet inflows, of $6.05 billion mixed, for the week. That was about half of the inflows the week earlier than.
Reporting by David Randall; Editing by Jennifer Ablan and Richard Chang