U.S. stock funds experienced outflows for the first time in three months, with record capital outflows from the technology sector

According to Jinshi, Bank of America cited EPFR Global data in its report stating that for the week ending June 24, U.S. equity funds experienced an outflow of $8.5 billion, marking the first outflow in three months. Technology sector funds led the decline with a record outflow of $9.3 billion. The report noted that Wall Street was shaken by the sell-off of large tech stocks, and the S&P 500 index has fallen from its all-time high. The total redemption scale for equity funds was $5 billion, while money market funds saw an outflow of $25.5 billion.