Bank of America clients net sold 18.5 billion USD in U.S. stocks over the past two weeks

Last week, Bank of America clients net sold $3.5 billion in U.S. stocks, following an outflow of $15 billion the previous week.

According to Bank of America analysts Jill Carey Hall and Trey Brown, retail investors led this sell-off. The communication services sector recorded its largest weekly outflow since tracking began in 2018, affecting the industry including Meta. The industrial sector also faced significant selling, marking the 13th consecutive week of outflows.