Assets of money market mutual funds tumbled 0.72% to $1.028 trillion in the week that ended Sept. 17, the Investment Company Institute reported.

The $7.41 billion decline was sharpest in funds for institutional investors. They ended the week with assets of $348.97 billion, down 1.05%. That includes $313.82 billion in taxable portfolios, down $2.71 billion, and $35.16 billion tax-exempt portfolios, off $1.01 billion.

Assets of retail funds fell 0.54% to $679.36 billion. That includes $558.32 billion in taxable funds, a $2.57 billion decline, and $121.03 billion in tax-exempt funds, down $1.12 billion.

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