Bank of America’s institutional clients bought more than $6.1 billion in stocks last week, including $4 billion invested in equity ETFs. Meanwhile, the bank’s retail clients were net sellers for the fourth consecutive week, dumping roughly $2 billion in shares. The divergence comes amid heightened market volatility following the Democrats’ midterm election victories and concerns that the artificial intelligence trade is losing momentum. The S&P 500 fell 4% on Thursday, while the Nasdaq Composite entered correction territory, before equities partially rebounded. Whether institutional buying continues as retail investors retreat will help determine whether this shift in market dynamics lasts.
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