US equity funds suffer outflows amid rate worries, Middle East conflict By Reuters

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<span>© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. REUTERS/Brendan McDermid/File Photo</span><br />
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<p>(Reuters) – U.S. equity funds suffered substantial outflows in the week ending Oct. 11, driven by concerns over persistent higher U.S. interest rates and escalating geopolitical tensions in the Middle East.</p>
<p>According to LSEG data, U.S. equity funds experienced about $5.68 billion worth of outflows during the week, a fourth weekly net selling in a row.</p>
<p>Data on Thursday showed an increase in U.S. consumer prices in September, including a surprise surge in rental costs, which increased market jitters about the Federal Reserve hiking interest rates again this year.</p>
<p>By segment, equity small-, mid-, large-, and multi-cap funds were hit with outflows of $1.77 billion, $1.11 billion, $972 million, and $343 million, respectively.</p>
<p>Among U.S. equity sectors, consumer discretionary, healthcare, and financials, having outflows of $430 million, $390 million, and $326 million, respectively, led net selling. Investors still poured about $360 million into utilities.</p>
<p>U.S. bond funds, meanwhile, lured $1.04 billion worth of net purchases, the first weekly inflow in three weeks.</p>
<p>U.S. short/intermediate government and Treasury funds drew $3.82 billion, the biggest weekly inflow since mid-March.</p>
<p>Short/intermediate investment-grade funds also received around $1.1 billion on a net basis, but U.S. emerging markets debt and high-yield funds posted $1.05 billion and $2.5 billion worth of outflows, respectively.</p>
<p>In the same period, investors withdrew about $9.84 billion from U.S. money market funds after two weeks of net buying in a row. </p>
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