July's Tech Crunch Squeezes More Dough Out of Stock Funds

Battered fund investors are seeing the stock market as more money pit than cash machine these days.

That's the upshot from a report on July cash flows to mutual funds, released Monday by fund-tracker Lipper. Redemptions from stock funds, which on average lost 3.2% of their value last month, outpaced investments by about $1.5 billion. At the same time, $15.3 billion gushed into the safer havens of bond and money market funds, pushing the average bond fund up 1.7% for the month. ...