Bank of America clients sell U.S. stocks at fastest pace in 10 weeks

According to Jinse Finance, citing Jintou Data, Bank of America clients have withdrawn from the U.S. stock market at the fastest pace in 10 weeks, reducing their risk exposure. As of the end of June, the S&P 500 Index recorded its best quarterly performance since 2023. In a report released on Tuesday, a group of exchange quantitative strategists, including Jill Carey Hall, wrote that last week, all major client groups—including institutions, retail investors, and hedge funds—collectively withdrew $1.3 billion from the U.S. stock market. Amid growing risk aversion in the market, uncertainty is mounting over whether the current rally can be sustained. This rally has helped the S&P 500 rebound from its tariff-related lows in April and is now hovering near its most overbought level since July 2024.