Assets of money market mutual funds fell more than $9 billion, to $591.24 billion, in the week that ended May 25, the Investment Company Institute reported.

Retail fund balances dropped $3.81 billion, to $421.69 billion. Both taxable and tax-exempt funds experienced declines in the week.

Institutional money market funds slipped $5.47 billion, to $169.55 billion.

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