US tech sector funds recorded a record $15 billion outflow this week after a record $19 billion inflow last week

US tech sector funds saw $15 billion in net outflows this week, the largest weekly withdrawal in at least the past two and a half years, and more than double the previous record. Notably, just the week before, the sector had recorded $19 billion in net inflows, also a record high.
Overall, US equity funds had $8.5 billion in net outflows this week, the largest in nearly three months, while the previous week had just recorded a record $119 billion in net inflows.
Meanwhile, the information technology sector's share of the S&P 500 total market capitalization has risen to 39%, a new record high, surpassing the peak of 33% during the 2000 internet bubble.