Investors massively poured out of US small- and mid-cap equities in the three weeks following President Donald Trump’s ‘Liberation Day’, as many fled the largescale volatility.
An exclusive study by Investment Week, it found that US small- and mid-cap funds and ETFs lost $13.4bn between 3 and 25 April, with a further $3.4bn in outflows recorded between 31 March and 2 April, when Trump unleashed a series of punitive tariffs. According to data from LSEG Lipper, in the two weeks following Trump's imposition of tariffs - between 7 and 18 April - weekly outflows averaged at around $3bn before picking up and hitting $4.9bn in the week from 21 to 25 April. Meanwhile, inflows into US equities as a whole stood at $6.1bn between 31 March and 25 April, still signi...
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