Investors Pull $24B from Equity Funds in January

Investors pulled $24 billion from equity funds in the first three weeks of January, as stock markets took a plunge following a decline in oil prices, Bank of America said Friday.

Emerging markets

The rout has been deepest in emerging-market equities, as funds have seen outflows for every week in the past three months, with investors redeeming $2.3 billion in the week ended Jan. 20—the largest outflow in 19 weeks.

Funds covering tech, financials, and consumer sectors all recorded their largest weekly outflows in nearly six months during that same period, while health care saw the largest outflows in over three months.

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