US equity funds witness first weekly outflow in three weeks

US equity funds experienced their first weekly outflow in three weeks during the week ended October 7, as investors took profits amid concerns over rising Treasury yields and high crude oil prices. The S&P 500 reached a record high of 7,844.52 earlier in the week but later declined, with the 10-year Treasury yield hitting its highest level since April 2002 due to inflation worries.

While US large-cap, mid-cap, and small-cap funds recorded net outflows of $14.08 billion, $1.03 billion, and $834 million, respectively, investors still poured $5.68 billion into sectoral funds, with technology attracting the most at $4.53 billion. In contrast, US bond funds saw a weekly record of $19.78 billion in inflows, with significant investments in short-to-intermediate government and Treasury funds, as well as money market funds reversing the previous week's outflows.

Brief written by urgent.news from Investing.com's own syndicated text. Machine-written — may contain errors; check the original before relying on it.