Investors Ditch Tech, Flee US Stock Funds As Euphoria Wanes

If flows are a proxy for enthusiasm, excitement around 2023's tech-driven equity rally waned over the last week. Tech stocks and A.I.-related shares have obviously outperformed this year, and some strategists expect that trend to continue barring a Fed-engineered recession that deflates the burgeoning bubble. But there's some tentative evidence the mania is cooling at the margins. Tech-focused equity funds lost $2 billion over the latest weekly reporting period, according to EPFR. As the fi