European equity funds log sharp outflows

European equity funds came under selling pressure in the week through July 30 as a rally in regional stocks cooled, with investors growing cautious over the uncertain economic implications of the US-EU trade deal and signs of weakening corporate earnings, reports Reuters.

However, a record-setting rally on Wall Street drew investors into US equity funds.

According to LSEG Lipper data, investors offloaded a net $41.12 billion worth of European funds in their largest weekly sales since at least 2018 but scooped up US funds worth a net $6.34 billion to end a two week trend of net selling. They also added a net $3.05 billion into Asian funds.