Equity mutual funds dropped by more than 7% last week, marking a tough period for investors. ACE MF's analysis covered 600 equity funds including sectoral and thematic schemes between February 9 and February 13. Out of these, 537 funds posted negative returns, 62 showed gains, and one remained flat. The top 12 biggest losers all belonged to the technology sector. Their weekly losses ranged from 4.49% to a steep 7.33%, highlighting sector-specific challenges. The Quant PSU Fund, focused on the Public Sector Undertaking sector, fell about 3.95% during this timeframe. Also, Motilal Oswal's funds faced declines: the Business Cycle Fund dropped roughly 3.91%, and the Multi Cap Fund was down 3.24%. This data underlines a broad weakness in equity markets recently, with technology stocks and select sector funds bearing the brunt.