U.S. equity funds suffer outflows as chip stocks slide
SPY•Sector, bond and money market fund flows
Among sector funds, technology inflows cooled to a three-week low of $1.57 billion. Healthcare funds attracted a net $465 million, while investors withdrew about $579 million from consumer discretionary funds and $409 million from communication services funds.
U.S. bond funds remained popular for a 13th straight week, attracting $9.89 billion in inflows.
Investors bought $2.38 billion of short-to-intermediate investment-grade funds, $1.47 billion of short-to-intermediate government and Treasury funds, and $1.36 billion of municipal debt funds.
U.S. money market funds, meanwhile, saw $68.03 billion in outflows, the largest weekly withdrawal since April 15.
Chip stocks and growth funds come under pressure
Chip stocks came under pressure after rallying about 87.75% in the previous quarter. The Philadelphia SE Semiconductor Index .SOX has fallen roughly 8.48% so far this week, with SanDisk (SNDK.O), Marvell Technology (MRVL.O) and dropping , and , respectively.
