Last week, the SPDR S&P 500 exchange-traded fund lost $23.6 billion. Outflows amounted to 8% of the fund’s total assets at the start of the week, the biggest rate since August 2010.
The week was the worst in several years for many world stock indices.
Withdrawals from the SPDR S&P 500 ETF offset the previous nine weeks of inflows into the fund. In total, the fund’s assets declined by $38.6 billion. That’s almost double the second-worst result in asset decline of $19.4 during the week ending August 21, 2015, when the unexpected devaluation of the Chinese yuan shook markets.
Prior to the market turmoil, the fund’s total assets rose above $300 billion amid high demand for the US stocks. The iShares Core S&P 500 ETF saw inflows of $634.5 million, while the Vanguard S&P 500 ETF suffered only $209 million in outflows.
