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Tech Stocks See Record $9.3B Weekly Outflows, Nasdaq Slides 4.6% as Capital Rotates

GateNews
According to Bank of America's fund flow report released last Friday (June 27), technology stocks experienced approximately $9.3 billion in record net outflows for the week, marking the sector's largest weekly exodus. Concurrently, the Nasdaq Composite Index declined 4.6%, while the S&P 500 fell nearly 2%, as capital shifts toward healthcare, industrial, and financial stocks. The "Magnificent Seven" tech giants posted cumulative losses exceeding 12%, with nearly every component down at least 10% from recent peaks.
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