BofA: US Stocks Post Largest Outflows in Over Three Months as Tech Buying Pauses
- Bank of America data for the week ending July 1 shows U.S. equity funds saw roughly $17.2 billion of net outflows, the biggest weekly withdrawal in nearly four months and the first outflows since March, per Bloomberg.
- The reversal ended three straight months of net inflows and coincides with a rotation away from mega-cap tech/AI names into smaller-caps, cyclicals, and defensives following the soft June jobs print (https://www.bloomberg.com/news/articles/2026-07-03/us-stocks-post-largest-outflows-in-over-three-months-bofa-says).
- Separately, Reuters notes 'tech buying resumed' in the latest fund-flow week, underscoring the two-way churn in AI-linked positioning heading into Friday's holiday close.