Uh oh.
Record $46 bln pulled from US-based stock funds in a week, according to Lipper:
More than $46 billion thundered out of U.S. stock mutual funds and
exchange-traded funds, the most ever, while a near-record $13 billion
poured from bonds, according to the research service. Relatively
low-risk money market funds pulled in $81 billion, also the most
recorded, the research service's data showed.
The withdrawals appeared to show investor confidence cracking in the
waning days of a wild year of up-and-down trading that has left many
people with losses across both stock and bond funds, a rare occurrence.
China just reported 'ugly' industrial output and retail sales growth that missed expectations:
The weaker Chinese data in November shows that the positive impact of
front-loading had begun to taper off and that downward pressure on the
Chinese economy was increasing, wrote Sue Trinh, head of Asia foreign
exchange strategy at RBC Capital Markets in Hong Kong.
The industrial output and retail sales data released on Friday were "ugly," she added in a Friday note.
