Investors disengage even more from U.S. stock funds as trade balance mount: ICI
NEW YORK, June 12 (Reuters) – Investors extended their retreat from the U.S. stock market by pulling nearly $8.2 billion out of mutual funds and exchange-traded funds that hold domestic equities last week, according to data released on Wednesday by the Investment Company Institute (ICI). The declines came amid the Trump administration’s threats to impose 5% import tariffs on all Mexican goods starting on Monday, June 10. The United States and Mexico struck a deal to avert the tariffs but concerns still remained about the lingering U.S.-China trade war. Worries about the health of the global economy and persistently low inflation have led financial markets to brace for interest rate cuts as soon as this summer by the Federal Reserve.