TechFlow, July 2 — According to Jinshi Data, clients of Bank of America withdrew from U.S. equities at the fastest pace in 10 weeks, reducing their risk exposure. By the end of June, the S&P 500 recorded its best quarterly performance since 2023. In a report released Tuesday, Bank of America quant strategists including Jill Carey Hall wrote that last week all major client groups—including institutions, retail investors, and hedge funds—collectively pulled $1.3 billion out of U.S. stocks. As market sentiment turns risk-averse, uncertainty is growing over whether this rebound can be sustained. The rally has lifted the S&P 500 from its April lows linked to tariff concerns and currently hovers near its most overbought level since July 2024.
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