Investors withdrew funds for the first time in eight weeks

Investors cut cash for the first time in eight weeks as they dumped stocks and gold, according to a report from BofA Global Research.

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According to BofA, published with reference to EPFR data, the profit reached $65.3 billion. Meanwhile, bond funds saw inflows of $4.6 billion, while investors sold $2.6 billion in global assets and withdrew $70 million from gold funds.

Emerging market debt saw weekly inflows of $600 million for the first time in 10 weeks. Investors poured $2.3 billion into emerging markets, the biggest inflows in four weeks.

Bank of America said its bearish index – a measure of market sentiment – fell from 2.3 to 2.8.

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