US stock funds see biggest outflow since December 2018

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April 9 (Reuters) – U.S. equity funds shed $38.6 billion in the latest week, the largest outflow since December 2018, as financial markets reeled from the economic impact of the COVID-19 pandemic.

U.S.-based taxable bond funds saw $31 billion in withdrawals in the week to Wednesday, the sixth straight weekly outflow, while money market funds attracted $71.7 billion as investors shaken by the number of deaths, layoffs and business closures caused by the spreading virus sought the safety of cash, according to Lipper data.

Reporting by Alden Bentley
Editing by Chris Reese

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