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Data: ICI; Chart: Axios Visuals

Traders still don't trust the stock market's run and are moving money out of equities at a historic level, despite a 25% year-to-date gain for the S&P 500.

What's happening: Data from the Investment Company Institute shows money has been pulled out of equity mutual funds and ETFs in every month this year except January.

  • In total, more than $130 billion has been drawn from equity funds in 2019, making it already the largest year of outflows on record.
  • ICI's data on equity flows go back to 2010.
  • The company's estimates for November show market participants also pulled money out of equity funds in every week, except one.

Similarly, a report from Refinitiv Lipper cited by WSJ shows the largest outflows in its history, which dates back to 1992.

The bottom line: "Analysts say the trend highlights investors’ apprehension toward a stock market buffeted by the long-running U.S.-China trade war and lingering worries about a potential recession," according to the WSJ.

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Updated 28 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Obama: Trump is "jealous of COVID's media coverage" Axios-Ipsos poll: Federal response has only gotten worse.
  2. Health: Hospitals face a crush — 13 states set single-day case records last week.
  3. Business: Winter threat spurs new surge of startup activity.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. States: Nearly two dozen Minnesota cases traced to three Trump campaign events.
  6. World: Putin mandates face masks.

Louisiana braces for 3rd hurricane in 2 months as Tropical Storm Zeta nears

Municipality workers clean the streets of garbage in Playa del Carmen, Mexico, on Tuesday that was left by Zeta, which struck the Yucatan Peninsula as a Category 1 Hurricane a day earlier — causing no major damage to infrastructure. Photo: Medios y Media/Getty Images

Tropical Storm Zeta is expected to strengthen back into a hurricane and bring dangerous storm surge conditions to parts of the northern Gulf Coast on Wednesday, per the National Hurricane Center.

The state of play: Louisiana Gov. John Bel Edwards (D) requested a pre-landfall Federal Declaration of Emergency in a letter to President Trump on Tuesday, ahead of the storm's expected arrival south of New Orleans.

2 hours ago - Technology

Trump's campaign website hacked

A screenshot of the Trump campaign website after it was hacked.

The Trump campaign website briefly went down and its "About" page was modified after hackers attacked the site Tuesday evening.

The big picture: With just seven days before the election, the hackers emulated the FBI and declared on the "About" page that: "this was seized. the world has had enough of the fake-news spreaded [sic] daily by president donald j trump. it is time to allow the world to know truth." Two addresses linked to the cryptocurrency Monero appeared on the site. Trump campaign spokesperson Tim Murtaugh in a statement said no sensitive data had been exposed in the attack.

Go deeper: Twitter hack raises fears of an unstable election