According to CoinMeta, “Bank of America: Investors withdrew $18.5 billion from U.S. stocks within two weeks.” As reported by Cailian News on October 28th, Bank of America customers sold a net $3.5 billion in U.S. stocks last week, following a capital outflow of $15 billion the week prior. Analysts Jill Carey Hall and Trey Brown from Bank of America stated that this round of selling was led by retail investors. The communications services sector recorded the largest single-week capital outflow since 2018 when statistics began, which includes companies such as Meta. The industrial sector also experienced large-scale selling, with capital outflows continuing for the 13th consecutive week.