August 28, 2019 / 4:29 PM / 22 days ago

Investors retreat from U.S. stocks as recession fears spread

    By David Randall
    NEW YORK, Aug 28 (Reuters) - Investors pulled nearly $9.4
billion out of mutual funds and exchange-traded funds that hold
U.S. stocks last week as concerns over a possible recession
continued to weigh on investor sentiment, according to data
released on Wednesday by the Investment Company Institute. 
    The move out of domestic stocks pushed the year to date
decline for the category to nearly $94.5 billion, with nearly a
third of those losses coming since the beginning of August. The
benchmark S&P 500 is down 3.2% for the month, due in part to
rising concerns that an inversion in the U.S. Treasury bond
market is signaling an upcoming recession. 
    Bond funds, meanwhile, brought in a net of nearly $4
billion, bringing the year to date net gain for the category to
nearly $269 billion. Expectations the Federal Reserve will
continue to cut interest rates this year helped push 30-year
Treasuries to record-low yields. 
    World stock funds lost $4.6 billion last week, extending a
13-week losing streak. 
    
    The following is a broad breakdown of the flows for the
week, including mutual funds and exchange-traded funds:  
    
               8/21/2019  8/14/2019   8/7/2019  7/31/2019
 Equity          -14,004      2,437    -22,583      3,002
    Domestic      -9,382      3,109    -19,568      4,666
    World         -4,622       -672     -3,015     -1,664
 Hybrid             -743     -2,739     -1,562       -773
 Bond              3,951     10,038     -2,611      8,250
    Taxable        1,876      8,150     -5,484      6,589
    Municipal      2,074      1,888      2,872      1,660
 Commodity           618        307      1,179        248
 Total           -10,179     10,043    -25,578     10,727
 

    
    
    

 (Reporting by David Randall
Editing by Chris Reese)
  
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