Bank of America clients sold U.S. stocks at the fastest pace in 10 weeks

ChainCatcher news, according to Jinshi reports, American bank customers withdrew from the U.S. stock market at the fastest pace in 10 weeks, reducing their risk exposure. As of the end of June, the S&P 500 Index recorded its best quarterly performance since 2023.

In a report released on Tuesday, Bank of America quantitative strategists, including Jill Carey Hall, wrote that last week, all major client groups, including institutions, retail investors, and hedge funds, collectively withdrew $1.3 billion from the U.S. stock market. As market risk aversion grows, uncertainty surrounding the sustainability of this rebound is increasing. This rebound has helped the S&P 500 Index recover from the tariff-related lows in April and is currently hovering near the highest overbought levels since July 2024.