According to Refinitiv Lipper data, investors sold a net $10.4 billion in US equity funds in the week, the most in six weeks.
The United States is seeing large COVID-19 outbreaks in parts of the country with low vaccination rates, leading to a surge in hospitalizations and deaths in recent weeks.
Financial sector funds saw net selling of $2.4 billion, while other cyclical sectors such as industrials and mining funds also posted outflows.
Tech sector funds drew in $1.6 billion, the biggest weekly net inflow in five months.
Investors bought US government and municipal funds worth a net $3.1 billion in the week.
On the other hand, U.S high-yield bond funds saw outflows of $1 billion.
US money market funds received a net $4.64 billion, after six straight weeks of inflows.
