Global investors offloaded equity funds of a net $20.3 billion as they registered their most substantial weekly net sales since roughly $46.66 billion divestments in the week to December 17.
Major central banks, including the Federal Reserve, held rates steady but signalled tighter policy ahead, while the ECB may begin discussing rate hikes as early as April unless Middle East tensions ease.
Weekly outflows from US equity funds surged to a net $24.78 billion, a 2-1/2 month high. European funds had outflows at $2.13 billion, while Asian funds received a net $5.45 billion in inflows.
Equity sectoral funds, meanwhile, received weekly inflows of $1.66 billion, with industrial and technology sectors attracting a significant $1.83 billion and $1.78 billion, respectively.