From August 2 to August 9, a lot of money was taken out of US equity funds by investors who are worried about upcoming U.S. inflation numbers and possible lower credit ratings for banks.

According to the information from Refinitiv Lipper, around $14.96 billion was taken out of U.S. stock funds in a single week. This was the largest amount withdrawn in a week since June 21.

Last week, stocks on Wall Street went down a lot. The S&P 500 and the Nasdaq had their largest weekly drops since March. This happened because investors decided to sell and make profits after five months of gain.

Also tempering investor appetite, credit rating agency Moody’s (NYSE:MCO) downgraded 10 small- to mid-sized U.S. lenders on Monday and placed another six banks on review for potential downgrades.

Investors decided to sell their investments in U.S. large, mid, and multi-size funds, taking out about $14.95 billion, $543 million, and $261 million, respectively. On the other hand, small-size funds still saw an increase of around $748 million in investments.

By sector, materials, financials and tech saw net sales of $891 million, $554 million and $524 million, respectively. Meanwhile, healthcare funds received $1.39 billion, the most in a week since March 2022.

Meanwhile, U.S. money market funds and government bond funds attracted $40.88 billion and $4.48 billion, respectively, as investors hunted for safety.

U.S. bond funds received $3.99 billion in inflows on a combined net basis, compared with about $938 million of outflow in the previous week.

U.S. regular domestic taxable fixed income and mid-term investment-grade funds got around $800 million each in new investments. However, high-yield and loan participation funds experienced net outflows of $565 million and $419 million, respectively.