Flows to mutual funds in May of $5.3 billion were the lowest in two years, Bloomberg reports, citing data from Financial Research Corp. Investors are reacting strongly to stock markets around the world, which began declining early in the month. In fact, their investments were down 83% from the $31.3 billion they put into funds in April.

Reflecting this, investors put $38.7 billion in money market funds, which are delivering an average yield of 4.45%.

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