BlockBeats News, July 2nd, Bank of America's latest data shows that institutional clients have been selling off US stocks for the fourth consecutive week, with fund inflows into the technology sector hitting a historical low; individual stocks saw $9.9 billion in outflows, the fourth largest outflow since 2008.

Unlike institutional clients' continued selling, hedge funds have been net buyers during this period. Retail clients have also shifted from their previous trend and become net buyers for the first time in six weeks, indicating a divergence among different types of investors in the current market environment.

On the corporate side, Bank of America's data shows that corporate clients' buyback activities have slowed for the fifth consecutive week, dropping to the lowest level since February. The ongoing weakening of buyback activity echoes the overall cautious sentiment of institutional clients reducing their holdings in tech and financial stocks.