The America First Trade Is Unwinding
- Multinational stocks in favor as Dow rallies, small-caps sink
- S&P 500 has trailed emerging markets in the past three months
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The America First trade that has divided financial markets this year continues to unwind, with the latest evidence showing in U.S. stocks.
Thanks to President Donald Trump’s trade deal with Canada and Mexico, global growth bellwethers such as Boeing Co. led a 0.8 percent advance in the Dow Jones Industrial Average Monday, while the domestically focused Russell 2000 Index sank by about the same amount.