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Foreign Investors Are Pulling Back From U.S. Stocks • Overseas investors withdrew ~$5B from U.S. equity ETFs in June — the largest outflow in 3+ years. • This comes after ~$5B in net inflows during May and ~$24B in November 2024 alone. • The pullback happens despite the S&P 500 rallying +5% and hitting new all-time highs. Global capital is quietly rotating away from U.S. equities.

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