Investors withdrew $1.7 billion from global stock funds in the week to Nov. 30, the fourth consecutive week of outflows, Citigroup Inc. said, citing data from fund researcher EPFR Global.
Emerging-market equity funds had withdrawals of $500 million, Citigroup analysts led by Markus Rosgen wrote in a report dated today. China was the “hardest hit” among Asian countries with outflows of $300 million, the report said.
Standard & Poor’s this week cut the credit ratings of some of the world’s biggest banks including Goldman Sachs Group Inc., Bank of America Corp. and UBS AG after the ratings firm revised its criteria for the banking industry. In August, S&P downgraded the U.S. sovereign credit rating from AAA, citing political failure to reduce record deficits.
“The downgrade of U.S. banks and the uncertainty” over reductions in
http://www.bloomberg.com/news/2011-12-02/global-funds-withdraw-1-7-billion-in-a-fourth-week-of-outflows-citi-says.html
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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