AI Frenzy Stalls as Tech Stocks See First Outflows in Two Months
- Cash year-to-date inflows approaching 2020 record levels
- Keeps bearish view on rising rates, tighter liquidity
The AI frenzy that has driven massive inflows into tech stocks is marking a pause, Bank of America Corp. says.
Tech funds sustained $1.2 billion of outflows in the week through June 7, their first in eight weeks, according to the bank, citing EPFR Global data. The move occurred after the group had record inflows last week.