Investors just hit the eject button on US equities with a force not seen in Bank of America’s nearly two decades of tracking flow data. Clients sold $14.2 billion in single stocks during the week ending June 5, making it the largest weekly outflow BofA has ever recorded.
The selling wasn’t subtle. Institutional investors, private clients, and broker-dealers all headed for the exits at the same time, with tech stocks bearing the brunt of a market-wide mood shift that sent the S&P 500 tumbling 2.6% for the week, its steepest decline since April 2025.
Where the money went (and where it didn’t)
Technology stocks were ground zero. Tech outflows hit their highest level since BofA began tracking sector-level data in 2008. Institutional clients posted their biggest outflows since mid-March 2026, and broker-dealer clients alone shed $6.4 billion.
Private clients weren’t exactly calm either. Their net sales were the largest since November 2024, suggesting this wasn’t just a professional-investor phenomenon.
