May 22, 2019 / 6:20 PM / 3 months ago

Investors continue four-week retreat from U.S. stock market

    By David Randall
    NEW YORK, May 22 (Reuters) - Investors continued a four-week
long retreat from the U.S. stock market last week by unloading a
net of nearly $9.6 billion in assets from domestic mutual and
exchange-traded funds, according to data released Wednesday by
the Investment Company Institute. 
    The nearly $9.6 billion in outflows came on the heels of a
$10.1 billion decline in net assets from the week before,
prolonging a streak in which investors have sold into a rising
stock market. For the year to date, the benchmark S&P 500 is up
14%, thanks to the Federal Reserve's decision to pause its pace
of interest rate hikes. 
    Yet signs that the trade war between the United States and
China - the world's two largest economies - could continue has
made investors increasingly skittish that the stock market rally
could be slowing. 
    Since January, investors have pulled a net of nearly $40
billion out of domestic stock funds. Taxable and municipal bond
funds, meanwhile, have grabbed slightly more than $168 billion
in new assets over the same time, including approximately $1.6
billion in new assets last week. 
    World stock funds lost approximately $1.8 billion in net
assets last week, a reversal of the roughly $1.8 billion the
category pulled in the week before. For the year to date, world
stock funds have dropped $5.3 billion in net assets. 
    
    The following is a broad breakdown of the flows for the
week, including mutual funds and exchange-traded funds:   
                   5/15/19     5/8/19   5/1/19  4/24/19  4/17/19
 Equity            -11,399     -8,306   -5,954  -16,194    4,545
         Domestic   -9,570    -10,163   -5,178   -7,241    3,993
         World      -1,828      1,856     -775   -8,953      552
 Hybrid               -983       -834   -2,474     -131     -976
 Bond                1,681      7,593    9,129    9,981    8,809
         Taxable      -138      5,261    6,988    7,597    7,559
         Munis       1,819      2,331    2,141    2,384    1,250
 Commodity            -720       -748     -192     -342     -101
 Total             -11,421     -2,296      509   -6,687   12,276
 
 (Reporting by David Randall; editing by Jonathan Oatis)
  
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