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Investors are exiting stocks at the fastest rate in two and a half years
Refinitiv Lipper data revealed that global equity funds witnessed the largest outflow of cash flows since March 2020 last week, affected by pledges by central banks around the world to continue monetary tightening.
During the week ending December 21, total withdrawals from equity funds reached $33.6 billion.
Bond funds also witnessed outflows of $14.1 billion - the largest level in more than two months -, while cash funds saw net sales of $41 billion.
On the other hand, precious metals funds attracted inflows of $362 million, compared to inflows of $220 million in the previous week.
A number of major central banks held their monetary policy meeting last week, and apart from continuing to increase interest rates, monetary policy makers at those banks pledged to continue monetary tightening for the coming period to curb inflation.
