U.S. Equity Funds Record Outflows Amid Chip Stock Declines
In the week through July 15, U.S. equity funds experienced outflows of $4.8 billion due to a selloff in chip stocks and rising tensions between the U.S. and Iran. The Philadelphia Semiconductor Index dropped by about 8.48% this week as major chipmakers like SanDisk, Marvell Technology, and Intel fell significantly.