BofA Says Rate Worries Spark Biggest Stock Outflows This Year

Investors are dumping equities at the fastest pace since December as the prospect of higher-for-longer interest rates raises the risk of a recession, Bank of America Corp. strategists say.

Global equity funds had outflows of $16.9 billion in the week through Sept. 20, according to a note from the bank citing EPFR Global data. US stock funds led the exodus, while in Europe, redemptions reached 28 weeks.

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