US equity funds see first weekly outflow in three weeks as chip selloff weighs on sentiment

Investors withdrew a net $4.8 billion from US equity funds during the last week, ending a two-week inflow streak, as a sharp selloff in semiconductor stocks weighed on sentiment. The Philadelphia Semiconductor Index fell around 8.48% in the week after surging nearly 87.75% in the prior quarter, with San skid plunging 26.35%, Marvell Technology dropping 20.15%, and Intel declining 11.71%. Meanwhile, US bond funds drew $9.89 billion for a 13th straight week and value-oriented funds attracted $3 billion for a third consecutive week, suggesting a rotation toward defensive strategies.