BofA says investors sold U.S. equities at the fastest pace since March. A
Michael Hartnett-led team, citing EPFR Global, reports $17.2bn of outflows in
the week to July 1 — the first weekly redemption in three months after strong
inflows earlier this year. Flows favored international stocks: Japan saw the
largest inflow in seven weeks at $1.9bn. Continued skepticism over AI-driven
valuations weighed on chip names; the Philadelphia Semiconductor Index fell
about 11% over the past two trading days.
