Bank of America report: US stocks lose $28 billion in a week, money market funds become a hot commodity.

According to the Wisdom Financial APP, Bank of America strategist Michael Hartnett stated that due to growing concerns that high tariffs may inhibit economic growth, investors are withdrawing from the US stock market and flocking to cash funds. Bank of America cited EPFR Global data report stating that as of the week of August 6, investors redeemed nearly $28 billion from the US stock market, while money market funds attracted approximately $107 billion in inflows, marking the largest inflow since January.