(Reuters) – Global equity funds experienced massive outflows during the week ending Dec. 1. Investor concerns were raised by worries over the economic consequences of Omicron coronavirus. The Federal Reserve’s hawkish attitude towards unwinding stimulus funding also contributed to investors’ concern.

Global equity funds were sold by investors for a net total of $15.56 billion. This was the largest outflow since April 28th, according to Refinitiv Lipper data.

Fund flows into global equities bonds and money markets: https://fingfx.thomsonreuters.com/gfx/mkt/jnpweayrapw/Fund%20flows%20into%20global%20equities%20bonds%20and%20money%20markets.jpg

European equity funds were subject to outflows totalling $27.12 trillion, but investors bought U.S. funds in the amounts of $7.59 billion and $3.2 billion.

Inflows to equity sector funds by technology funds reached $3.17 trillion, which is their highest weekly inflow for over nine months. Financials and energy funds, on the other hand, saw net selling at $1.74 billion ($0.55 billion) and $0.45 billion (respectively).

Global fund flows into equity sectors: https://fingfx.thomsonreuters.com/gfx/mkt/zgvomnblavd/Global%20fund%20flows%20into%20equity%20sectors.jpg

The first outflow of global bond funds in seven weeks was worth $1.89 Billion.

Inflows to global bond funds of $3.69 trillion, the highest since July 21, were driven by a rush for safety. However, $872 million was pulled in from inflation-protected funds. High yield funds saw net sales for a second consecutive week at $2.76 billion.

Global bond funds’ flows in the week ended Dec 1: https://fingfx.thomsonreuters.com/gfx/mkt/byprjqlnepe/Global%20bond%20funds’%20flows%20in%20the%20week%20ended%20Dec%201.jpg

Net purchases by global money market funds totalled $16.31 trillion, an increase of 45% over the week before.

Precious metals funds led the way with $120 million net purchase, which marked a second consecutive week of inflow. Energy funds luring a net $101million.

Analysing 24,052 emerging markets funds revealed that investors sold bonds funds for the third consecutive week at $1.75 Billion, and equity funds experienced $384 M in outflow after four weeks of inflow.

Fund flows into EM equities and bonds: https://fingfx.thomsonreuters.com/gfx/mkt/akpezoqynvr/Fund%20flows%20into%20EM%20equities%20and%20bonds.jpg