Investors withdraw money from US-based funds ahead of Fed meeting - Reuters

The US-based equity funds witnessed more than $8.4 billion of cash withdrawals in the week ended Wednesday, according to Refinitiv's Lipper.

The withdrawals have come ahead of next week's Federal Reserve meeting. The central bank is widely expected to cut rates by 25 basis points. The move has been priced in and the outflow of funds from equities indicate the market may see "sell the fact" action following a rate cut on July 31.

While equities saw outflows, the US-based money market funds attracted $26 billion, their fifth consecutive week of inflows.