Tech fund outflows drive weekly global equity fund inflows down to $7.51 billion

Weekly inflows into global equity funds fell to $7.51 billion, down about 86% from the prior week. Technology sector funds flipped to net outflows of $17.83 billion after taking in $21.5 billion a week earlier. May PCE inflation rose to 4.1% year on year, the highest since April 2023, reinforcing expectations of a possible 25-basis-point Fed hike later this year. Gold and other precious metal funds posted a sixth straight weekly outflow, with net sales of $545 million.