In late 2024, the ‘American exceptionalism’ trade was thriving, driven by President Donald Trump’s electoral victory in November, which encouraged global investors to pour money into the U.S. stock market. However, three months into 2025, the scenario has shifted. U.S. stocks have struggled during the first quarter due to the unwinding of popular artificial intelligence trades and tariff-related uncertainties. Meanwhile, international markets have surged ahead.
— new from MarketWatch
