Investors yanked billions out of stock mutual funds in the volatile third quarter, which marked the fourth straight quarter of losses for the Dow industrials.

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Investors yanked billions out of stock mutual funds in the volatile third quarter, which marked the fourth straight quarter of losses for the Dow industrials. That’s the longest losing streak since 1977-1978, when the market fell for five quarters. Investors poured money into safe government bond funds. “It was a quarter where you certainly had people shifting from greed to fear,” says Russel Kinnel, Morningstar’s director of mutual-fund research.