Investing.com - Suddenly, there's a lot to dislike about stocks,
Investors withdrew in the last week of June, according to a tally by Bank of America Merrill Lynch (NYSE:BAC). That's the most since the financial crisis 10 years ago. More than $24 billion of it was in U.S. funds.
BAML cited a number of reasons for the reallocation, including higher U.S. interest rates, rising oil prices and growing trade tensions.
Emerging market funds continued to see outflows, a trend that started in May.
Money market funds, which are essentially cash, pulled in $27 billion during the period. Another $1.7 billion flowed into municipal and Treasury bonds.
BAML said the only equity fund category to post inflows was tech.
Unlike the Dow Industrials and S&P 500, the Nasdaq Composite did not suffer a market correction in February and is close to its June peak.