U.S. bank ETFs suffer sharp outflows ahead of results

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Matt Dusk sings Sinatra in Halifax/PEI/Moncton | SaltWire - Exchange-traded funds tracking U.S. banks saw significant outflows since the start of October and ahead of earnings as investors took money off the table fearing elevated interest rates and stricter regulations in the aftermath of the regional bank crisis.

The prices of the ETFs are down 23% and 28.4%, respectively, as bank stocks fell sharply earlier this year following the collapse of California-based Silicon Valley Bank and two other U.S. lenders. "The fact that they're not all in tough shape has investors taking a cautious stance and that is certainly illustrated by the exodus we've seen this year in some of the more popular ETFs."

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