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Investors dump U.S. stocks for 13th straight week

May 24, 2012: 4:28 PM ET

Investors continued to bail out of U.S. stocks and added money to bonds as they faced the threat of Greece leaving the eurozone.

U.S. stock mutual funds bled $3.5 billion in the week ended May 16, according to the Investment Company Institute, marking the 13th straight week of outflows. Meanwhile, bond funds raked in assets for the 32nd straight week, with more than $7 billion flowing in during the latest week.

With the spotlight on Greece amid growing concerns that the debt-laden country may exit the eurozone, foreign stock funds lost $117 million, marking the first outflow since March.

The losses come as investor fear has reached a fevered pitch. According to CNNMoney's Fear & Greed Index, investor sentiment has been at an "extreme fear" level for the past two weeks.

Since the beginning of the year, investors have pulled more than $41 billion from U.S. stock mutual funds. By comparison, the funds brought in $6.4 billion during the first five months of 2011, and lost just $18 billion during the first five months of 2010.

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Hibah Yousuf
Hibah Yousuf
Reporter, CNNMoney

Hibah Yousuf is a reporter at CNNMoney, where she covers stocks, bonds, commodities and currencies trading across the globe, as well as corporate earnings and other markets-related news. Prior to joining the site in 2009, she interned at Money Magazine.

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Stupid Stock Move of the Day
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