Domestic and global equity funds see outflows again last week.

The Investment Company Institute released weekly data on mutual funds and exchange traded funds (ETFs) on Wednesday. The data suggest that fund managers are very concerned about the U.S. economy, the ongoing trade war, and other factors. Last week, mutual funds and ETFs dropped roughly $11.8 million in U.S. equities.

The outflows came the same week that American manufacturing data hit a 10-year low. Investors do not appear overly optimistic that the White House and China will advance a major trade deal this week. Most analysts project a deal that won’t happen until well into 2020. JPMorgan CEO Jamie Dimon has even suggested that a deal won’t come until after the 2020 election.

Meanwhile, the Federal Reserve noted during its most recent meeting that the probability of a recession has “increased notably.” Minutes from the September 17-18 FOMC meeting suggest that ongoing trade tensions and geopolitical tensions are affecting economic sentiment.

Investment Company Institute: Global Funds See Outflows Too

The Investment Company Institute’s data shows that investors have pulled $103 billion from domestic equity funds this year. Bonds have become an investment preference due to the perceived safety of fixed income. The ICI says that investors have pushed roughly $327.5 billion into bonds.

Global stock funds have also seen an outflow of capital. For the week, those funds saw $2 billion depart. That marks the fourth-straight week that investors pulled more money into global stock funds than they put into those funds.