Bank of America customers have been net selling US stocks for the second consecutive week, with the scale being the largest since November 2020

With the increasing uncertainty surrounding the economic outlook, Bank of America customers have been net selling US stocks for the second consecutive week, marking the largest net selling volume since the end of 2020 and the second largest net selling volume for the company since 2008. As of the week ending August 30th, institutions, hedge funds, and retail investors all reduced their holdings of US stocks, resulting in a net selling of $8 billion. ETFs recorded outflows for the first time since June. In terms of sectors, the technology sector led the outflows, marking the largest outflow since May. Energy stocks have been experiencing continuous selling pressure over the past six weeks