Bank of America: Institutional clients sell tech stocks, marking the fourth consecutive week as the primary net sellers in the US stock market

Clients of the bank sold stocks in 9 out of the 11 S&P 500 sectors last week, with technology and financial sectors being the most affected. Citing client data for the week ending June 26, Hall noted that the four-week average net capital inflow into the technology sector has dropped to a historic low. The consumer staples sector has recorded net outflows for seven consecutive weeks, marking the longest duration on record. Read more