Data from Lipper for the week ended February 7, U.S. fund investors sucked the largest withdrawals from funds on record
- took $23.9 billion out
These are withdrawals from U.S.-based equity exchange-traded funds (ETFs) and mutual funds
"We're seeing a flight to safety here, money leaving equities, a lot of money going to money markets," cash-like investments that took in $30.8 billion during the week, said Pat Keon, senior research analyst for Thomson Reuters' Lipper unit. "The market's overbought. It's due for a correction and looking for a reason, and I think it kind of found it with this," he said.
