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U.S.-based stock funds posted a $6.9 billion weekly outflow, according to the Lipper data released on Thursday, as a move out of equity funds resumed after a $1.1 billion inflow a week ago. Stock funds have seen outflows in seven of the past eight weeks.
The latest flow changes come as investors digested the implications of President Donald Trump’s positive COVID-19 test as his race against former Vice President Joe Biden enters the final weeks, and prospects in Congress for a fiscal stimulus package.
Money market funds shed $20.4 billion, their 11th straight weekly outflow, according to the Lipper data.
