BOSTON (AP) — The stock market ended up going nowhere in 2011, and investors continued to hit the exits. For the fifth year in a row, they withdrew more cash from stock mutual funds than they put into them.
Industry consultant Strategic Insight said on Friday that investors withdrew a net $85 billion from U.S. stock funds in 2011. There's been an outflow of money for eight consecutive months, and December's net withdrawals totaled $24 billion. The retreat from stock funds came as the Standard & Poor's 500 index ended 2011 almost exactly where it started.
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