Illustration: Lazaro Gamio/Axios

Investors pulled $153 billion out of mutual funds and ETFs for the week ending March 18, the largest outflows ever, data from the Investment Company Institute showed.

The state of play: The outflows were more than eight times higher than the previous week when investors pulled $19 billion from mutual funds and ETFs that included bond, equity, hybrid and commodity funds.

The intrigue: Investors pulled more money out of bond funds than out of stock funds by a magnitude of 10 to one, the data shows.

By the numbers: For mutual funds specifically, bonds saw their largest outflows ever, with investors pulling 1.9% of total January 2020 assets out of funds, ICI senior director of industry and financial analysis Shelly Antoniewicz tells Axios.

  • That was nearly double the previous high in percentage terms seen in October 2008 (1.1%) during the financial crisis.
  • The dollar value ($93 billion) pulled from bond mutual funds last week was more than five times the 2008 total ($18 billion).
  • Including bond ETFs, $114 billion was pulled out of bond funds during the week, according to ICI's data.

Quick take: The outflows from bonds likely reflect the fact that investors have loaded up on bond funds over the past two years. While equity funds saw their largest outflows on record in 2019, despite the S&P 500 gaining 30%, bond funds saw near record inflows.

Go deeper: Don't panic about the stock market

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Fauci says White House effort to discredit him is "bizarre"

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Anthony Fauci told The Atlantic on Wednesday that efforts by certain White House officials to discredit him are "bizarre" and that it "ultimately hurts the president" to undermine a top health official in the middle of a pandemic.

Driving the news: Fauci's comments come on the heels of a USA Today op-ed by White House trade adviser Peter Navarro, who claimed that Fauci has been "wrong about everything" related to the coronavirus that the two have interacted on. Fauci told The Atlantic: “I can’t explain Peter Navarro. He’s in a world by himself.”

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Oklahoma Gov. Kevin Stitt (R) announced on Wednesday he has tested positive for the coronavirus and will self-isolate, Tulsa World reports.

Why it matters: The 47-year-old Stitt is believed to be the first governor in the U.S. to test positive. He attended President Trump's rally in Tulsa last month, which the county's health department director said likely contributed to a surge in cases in the region.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2:30 p.m. ET: 13,397,167 — Total deaths: 580,388 — Total recoveries — 7,449,477Map.
  2. U.S.: Total confirmed cases as of 2:30 p.m. ET: 3,459,053 — Total deaths: 136,900 — Total recoveries: 1,049,098 — Total tested: 41,764,557Map.
  3. States: Alabama's GOP governor issues statewide mask mandate — Oklahoma Gov. Kevin Stitt tests positive.
  4. Politics: Fauci says White House effort to discredit him is "bizarre" — Trump says Navarro shouldn't have written op-ed attacking Fauci.