Global equity fund inflows decreased significantly in the week to November 12 due to concerns over technology valuations and U.S. labor market conditions. Investors bought only $4.11 billion worth of equity funds, a sharp drop from the previous week’s $22.27 billion.

Worries heightened after a private report indicated job losses in the U.S. in October, with official figures delayed by the government shutdown. Major tech stock pullback and SoftBank’s sale of $5.83 billion in Nvidia shares also contributed to the negative sentiment.

Asian equity funds saw $3.04 billion in inflows, leading regional flows, while U.S. funds had $1.15 billion in purchases and European funds faced $1.87 billion in outflows. The technology sector attracted $2.59 billion, with healthcare and industrial sectors also seeing inflows.

Global bond funds continued to draw inflows for the 30th consecutive week, totaling $13.11 billion. Short-term bond funds saw a surge to a seven-week high of $5.77 billion, with notable inflows into Euro-denominated and corporate bond funds.

Gold and precious metal commodity funds saw renewed demand, gaining $1.64 billion in inflows after two weeks of outflows. Emerging market equities received $2.17 billion in the third consecutive weekly inflow, while bond funds experienced a third straight outflow of $1.45 billion.

Read more at Yahoo Finance: Global investors pull back, cautious over tech valuations and US labour