US stock funds see cooling of technology sector trading outflow for the first time in three months Golden Finance reported on June 26th that Bank of America cited EPFR Global data in its report, stating that as of the week ending June 24th, US stock funds had outflows of $8.5 billion, marking the first capital outflow in three months. Technology sector funds led the decline, with a record outflow of $9.3 billion. The Bank of America team led by Michael Hartnett wrote in the report that this trend is completely opposite to the previous week, when technology fund inflows reached a record high of $19.2 billion. Wall Street has been shaken by the sell-off of large tech stocks, including a significant drop in Apple's stock price. Although storage chip manufacturer Micron Technology has eased concerns about a slowdown in the technology sector with a strong sales outlook, the S&P 500 index has fallen from its previous historical high. Bank of America reported an overall outflow of stock funds, with a redemption size of $5 billion, while money market funds experienced an outflow of $25.5 billion. European funds continue to fall out of favor, recording their 11th consecutive week of fund outflows. Investors turned to investing in fixed income funds, which absorbed $16.6 billion in funds.