Woosh…ETF’s had over $31B in outflows last week.  Incredible.

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Of note, in the summer of 2015 the S&P 500 Index fell 12%.  In January of 2016 the Index suffered a 13% pullback.  The outflows back then are miniscule compared to last week’s numbers.  At Friday’s low the SP 500 was down 12% from the January highs.

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Hat tip Eric Balchunas