Trump Tariffs Are Making International Stock Markets Great Again
Traders on the floor of the Bolsa Mexicana de Valores SAB, Mexico's stock exchange.
Photographer: Mauricio Palos/BloombergUS President Donald Trump’s tariffs are giving international stocks a serious lift and at the same time helping to end the S&P 500 Index’s run of global dominance — at least for now.
International stock markets are on pace to outperform the broad US equities benchmark this year, the first time they’ve done that since 2022, and the first time in a rising market since 2009. Fears that tariffs and trade uncertainty will have an outsized impact on Corporate America’s earnings growth are the primary culprit.