How quick the tables have turned
World's Largest ETF Hit by Biggest Four-Day Outflow on Record
By
Sid Verma
and
Dani Burger
February 7, 2018, 6:55 AM EST
The global market maelstrom spurred money managers to yank a record $17.4 billion from the mighty SPDR S&P 500 ETF over the past four trading sessions. The $8 billion removed on Tuesday alone was the third-largest daily withdrawal in the post-crisis era.
The last time redemptions were close to matching this frenetic pace? In late 2007, when cracks in U.S. equities began to show before the global financial crisis unfolded.