(Reuters) – U.S. equity funds saw an eighth straight week of net outflows in the seven days to May 17 as soft U.S. economic data and debt ceiling talks weighed on investor sentiment.

Investors sold U.S. equity funds with a net value of $7.64 billion over the period, compared with $5.64 billion of net disposals in the previous week, Refinitiv Lipper data showed.

U.S. large-cap funds faced $4.02 billion worth of net selling after $2.06 billion worth of inflows in the previous week. Investors also sold small-cap funds worth $1.18 billion but bought $52 million worth of mid-cap funds.

Among sector funds, healthcare, financials, and metals & mining funds faced outflows of a net $572 million, $528 million and $314 million, respectively, while technology received $705 million worth of inflows.

Meanwhile, risk aversion led to a fourth weekly inflow into safer government bond and money market funds, as they received a net $975 million and $8.36 billion respectively. U.S. bond funds received combined net inflows of $554 million, marking a third week in a row of net buying.

U.S. short/intermediate investment-grade, and general domestic taxable fixed income funds secured inflows of $1.42 billion and $590 million respectively, but loan participation funds had $1.04 billion worth of outflow.