Investors turn net sellers of U.S. equity funds on slowdown worries ✔️ Stratford Management Tokyo Japan

July 1, 2022
Posted by: Stratford Team
Category: Economy

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 22, 2022. REUTERS/Brendan McDermid/Files

July 1 (Reuters) – U.S. investors turned net sellers of equity funds in the week ended June 29, as they fretted over the impact of hefty rate increases on the U.S. economy, with data showing a contraction in the first quarter.

According to Refinitiv Lipper data, investors jettisoned U.S. equity funds worth $3.78 billion after purchases of $11.17 billion in the previous week.

Federal Reserve chair Jerome Powell said on Wednesday there was a risk that interest rate increases will slow the economy too much, but persistent inflation was the bigger worry. read more

The U.S. economy contracted slightly more than previously estimated in the first quarter as trade deficit widened to a record high and a…