BOSTON -- Equity mutual funds saw outflows last week for the first time in 15 weeks, according to data from the Investment Company Institute, reflecting a broad stock Wall Street sell-off at the start of last week.
Investors pulled $802 million out of long-term equity mutual funds in the week to Wednesday, June 24, according to estimates released by the industry trade group Wednesday.
The last time investors yanked cash from those funds was on March 11, withdrawing more than $21 billion.
Domestic equity funds accounted for the vast majority of the equity fund outflows, losing $666 million, with their foreign counterparts losing the remainder.
Mutual funds in total still saw inflows last week of about $3.75 billion, helped by cash that poured into bond and hybrid funds, which can invest in both stock and fixed income securities. Money flowed into mutual funds last week at the slowest pace since March 11, when all funds categories combined saw outflows of $23.5 billion.
U.S. stocks finished mixed last week and suffered their their worst one-day loss in two months on June 22 in a broad-based sell-off, as investors reconsidered the health of the economy. A sharp drop in U.S. crude oil futures and other commodities hit shares of companies sensitive to those prices.
In the week to last Friday, the Dow Jones industrial average slid 1.19 percent and the Standard & Poor's 500 Index fell 0.25 percent. The Nasdaq Composite Index , however, rose 0.59 percent.
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