After an uptick in January, investor borrowing slipped back in February, according to the latest numbers from the Investment Dealers Association.

The IDA says that client margin debt slipped below $8.1 billion in February, after rising to more than $8.4 billion in January. The move down ends three months of increasing margin debt, that saw clients re-ignite borrowing after slipping to a low of $7.6 billion in October 2001.

The peak for retail client debt was $11.9 billion, a level hit, along with market highs, back in September 2000.