Retail investors worldwide pulled over $28bn (â¬19bn) from equity funds last week, fleeing for the safety of fixed income and money market products as stock markets oscillated. The sell-off included $10.7bn from emerging markets funds, making it the worst week on record for the asset class.
EPFR Global, the funds tracker that produced the data, blamed the sell-off on mounting evidence the US will not sidestep a recession, creating fears for the global economy, as well as the European Central Bank's continued tough stance on interest rates.
