Cathie Wood Funds Whipsawed Amid Record Outflows, Rate Spike
- Investors pulled $465 million from ARKK in one day, data show
- Flagship ETF fell for third session as Treasury yields climbed
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Cathie Wood’s main exchange-traded funds whipsawed on Wednesday as bond yields surged anew and data showed investors pulled a record amount of cash from the firm during this week’s tech selloff.
In a very volatile session, the flagship ARK Innovation ETF (ticker ARKK) closed lower, following its worst two-day rout since September. The fund’s been battered by the rapid increase in Treasury yields, which have caused investors to think twice about the priciest corners of the stock market.