Bank of America clients sell off U.S. stocks at fastest pace in 10 weeks

Planet Daily News: Bank of America's clients are withdrawing funds from the U.S. stock market at the fastest pace in 10 weeks, reducing their risk exposure. As of the end of June, the S&P 500 index achieved its best quarterly performance since 2023. In a report released on Tuesday, Bank of America quantitative strategists, including Jill Carey Hall, noted that last week, all major customer groups, including institutions, retail investors, and hedge funds, collectively withdrew $1.3 billion from the U.S. stock market. As market risk aversion sentiment grows, uncertainty increases about whether this rally can be sustained. The current rally has helped the S&P 500 index rebound from the tariff-related lows in April and is now hovering near its most overbought levels since July 2024. (Jinshi)