According to online reports, data compiled by Bank of America showed that while the S & P 500 index hit a new high, the U.S. stock market recorded its largest net selling in 10 weeks. Bank of America strategist Jill Carey Hall pointed out that sales were dominated by institutional clients, hedge funds sold in the second week, and private clients sold for the first time in six weeks. He said clients sold shares in eight sectors, with industrial and real estate leading the list; these two sectors have seen outflows for four consecutive weeks.