Oct. 11 - Investors in funds based in the U.S. pulled $6.1 billion out of stock funds in the last week- on concerns over the debt ceiling and the government shutdown. Bobbi Rebell reports.
Today's Daily Digit is $6.1 billion. That's how much money came out of U.S. stock funds last week according to Lipper. It was the biggest week of outflows in nearly two months. Wall Street focusing on the political mess in the nation's capital- pulling back when the U.S. government went into shutdown mode. The fast approaching debt ceiling deadline was also a big concern. The vast majority of the outflows were from exchange-traded funds that hold U.S. stocks. ETF's are generally believed to represent institutional investors. Funds that hold mainly international stocks had inflows of $2.5 billion in new cash. Emerging market and European funds also added cash.