Data from Bank of America (BofA) reportedly shows that investors appear to be fleeing US markets in the wake of tariff-induced volatility.

The financial giant notes in a new analysis that US equities witnessed an $8.9 billion outflow in the week leading up to April 30th, CNBC reports.

European equities, by contrast, witnessed a $3.4 billion inflow in the week leading up to April 30th, and Japanese stocks saw a $4.4 billion inflow.

BofA also notes that for every $100 worth of inflow into the US stock market since the presidential election last November, there was $5 worth of outflow in the past three weeks.

The crypto sector witnessed inflows of $2.3 billion in the past week, and high-yield bonds saw inflows of $3.9 billion, suggesting investor appetite for risk, according to BofA. Gold and Treasuries, by contrast, saw a combined $6 billion worth of outflows.

The bank notes that its clients are now more worried about deflation than inflation and have been adjusting their portfolios accordingly, acquiring shares of utilities and low-volatility, high-dividend exchange-traded funds (ETFs).

Last month, Bank of America’s team of market strategists warned that the US stock market’s recovery could be short-lived, advising clients to “sell into rallies in US stocks and the dollar.”

The bank strategists said debasement of the US dollar is the “cleanest investment theme to play.”

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On March 26, the Financial Services Commission (FSC) released a list of unregistered exchanges, which confirmed that these apps can no longer be downloaded or updated through the Android store.

The goal of this action is to reduce the risk of money laundering and protect users from financial harm.

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Under South Korean law, any company offering digital asset services must register with the authorities. This is required under the Act on Reporting and Using Specified Financial Transaction Information.

The exchanges affected include KuCoin

$648.54M

Additionally, the Financial Intelligence Unit (FIU) is working with Apple Korea and the Korea Communications Standards Commission (KCSC) to block access to these exchanges on the App Store and through websites.

The FIU, which is part of the FSC, said on March 21 that it was reviewing possible action against companies that had not followed the local reporting rules.

Meanwhile, on March 20, South Korean authorities investigated Bithumb, a cryptocurrency exchange. What happened? Read the full story.