Aug 9 - Global investors funnelled substantial amounts into money market funds in the seven days to Aug. 7 as they rushed for safety amid a surge in market volatility triggered by fears of a U.S. slowdown and a strengthening yen that prompted unwinding of carry trades.
Japan's Nikkei share average , opens new tab plummeted 12.4% on Monday, its largest single-day fall, amid a yen surge, evoking memories of the 'Black Monday' stock market crash in October 1987. By sector, tech and financials saw significant outflows, amounting to $1.11 billion and $1.09 billion respectively, while utilities attracted their sixth consecutive weekly inflow, totalling $529 million.
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