Assets see record week of outflows as November sell-off spooks markets

The data showed investors withdrew $39bn (£31bn) from equities -a record week -and $8.4bn from investment grade bonds. FAANG stocks in particular were impacted following the sell-off in November where Facebook dropped 7.3% and Apple tumbled 19.6% for the month. Elsewhere, financials suffered the fourth largest weekly outflows on record with $2.1bn withdrawn from the sector. Instead, investors rotated into government bonds, emerging market equities, Japan, technology and healthcare. While precious metals recorded their biggest inflows in 28 weeks with positive flows of $300m. ...