US investors pulled a record $65bn out of mutual funds in the week to last Friday, as their losses mounted from failing stock and bond markets.

Two-thirds of the money was drawn from equity funds, which saw outflows of close to $9bn on Friday alone. Equity funds have had outflows of $56bn during October so far – the largest monthly drop since records began almost 20 years ago, according to TrimTabs, which tracks fund flows.