US Markets Are Trailing the World as Aura of America First Fades
The aura of US economic and market exceptionalism, which dominated for more than a decade, is looking shaky.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Across financial markets, America is no longer first.
Just weeks ago, investors were hailing Donald Trump’s return to the White House as a reason to bet that his blend of tax cuts and tariffs would supercharge economic growth, in turn boosting US stocks and the dollar at the expense of international peers. The so-called Trump trades were on.