The Investment Company Institute said long-term mutual funds saw outflows of $16.94 billion for the week ended August 3, The Wall Street Journal reports. Investors increased withdrawals from mutual funds investing in U.S. and foreign stocks by 39% to nearly $12.98 billion in the week. Equity funds witnessed outflows of $12.98 billion against outflows of $9.32 billion in the previous week. Also, investors withdrew $10.44 billion from U.S. equity funds, $2.55 billion from foreign stock funds, $2.86 billion from bond funds, $2.2 billion from taxable funds and $661 million from municipal funds.
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