S&P 500 Falls 1.4% As Bank of America Clients Sell Stocks

For the first time in eight weeks, Bank of America clients were net sellers of U.S. equities, contributing to a 1.4% decline in the S&P 500. The drop was mainly driven by outflows in single stocks, although equity ETFs saw inflows. Institutional clients led the selling, and hedge funds also sold after previous buying activity. This shift in client behavior may signal a cautious market outlook, impacting investor sentiment.