Stocks have struggled so far this year, with the S&P 500 losing 10%. Commentary from Bank of America strategists indicates more losses may be on the way.
Global equity funds saw on outflow of $17.5 billion in the week ended April 20, the worst week of the year, according to the strategists, citing EPFR data.
U.S. equity funds suffered an outflow of $19 billion, the biggest since December. The outflow was $19.6 billion for U.S. large-cap stocks.
“Everyone bearish, but redemptions just starting,” the strategists wrote in a bullet-point commentary.
