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Investors pull record $6.7bn from European equities and pile into gold on Ukraine jitters

Bank of America said Investors have instead flocked to safe havens, piling $46.3bn into cash — the largest allocation for nine weeks

Investors are sitting on cash and piling into havens like gold
Investors are sitting on cash and piling into havens like gold Photo: Ulrich Baumgarten/Getty Images

Spooked investors pulled a record amount from European equities and financial stocks over the past week, as Russia's invasion of Ukraine prompted savers to opt for cash as a safe haven.

According to Bank of America's weekly flow note, European equities suffered outflows of $6.7bn in the week to 2 March, while financial stocks haemorrhaged $3.5bn.

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