United States fund investors crushed high-yield funds with the largest week of withdrawals since March, according to data on Thursday. The junk bond mutual funds and exchange-traded funds (ETFs) reported $4.4 billion in net withdrawals for the week ending on November 15, taking the title of the fourth-largest weekly depletion since 1992.

The U.S.-listed, $11.6 billion SPDR Bloomberg Barclays High Yield Bond ETF displayed negative performance in 14 of the last 19 days. It delivered a negative 0.57 percent total return during the last month. The ETF reported $947 million in withdrawals during the week.

Increased high-yield outflows are concerning, said Pat Keon, senior analyst, mentioning the absence of an apparent catalyst. “I wouldn’t expect anything like I saw,” he stated.

Bank analysts have stated that high-yield volatility has been “driven primarily by a confluence of several meaningful and yet only loosely related events,” which includes the possibility for the U.S. tax reform to be postponed.

Investors’ bitterness has brought down sales for bonds overall, although the resilience that was displayed this year. Taxable bond fund outflows were $1.9 billion for the week. The funds continue to be on target for their third-best year of flows recorded. Stock fund flows diluted $240 million as well and domestic equity outflows compensated inflows for their counterparts concentrated overseas.

Within sectors, oil price decreases because of the apprehensions regarding increased U.S. production and inventories had weakened energy firms. Stock funds concentrated on the oil sector as it recorded $302 million in outflows, its highest since September. The Technology sector funds had rallied from healthy third-quarter corporate earnings generating $965 million in their largest inflow.

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The volatile international stocks maintained their attractiveness. Emerging-markets equity funds brought in cash for the tenth consecutive week and Japanese stocks recorded its sixth continuous week of net inflows.