Investors poured money into equities and bonds in the latest week, Bank of America Global Research said on Friday, but signs emerged the hype around artificial intelligence is fading as investors sold tech stocks for the first time in 11 weeks.
Equity funds saw $2.2 billion of inflows in the week to September 6, BofA said, citing data from provider EPFR, but tech stocks saw $1.7 billion outflow, the first in 12 weeks.
There was a net $4 billion inflow into bonds, with investors also putting $68.4 billion into cash, the largest inflow in nine weeks.
Source: https://www.investing.com/news/stock-market-news/investors-sell-tech-stocks-for-first-time-in-11-weeks–bofa-3170312
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