Global Stocks Outshine U.S. – Exceptionalism Fading?
International stocks posted their strongest first-quarter outperformance against U.S. stocks on record, according to Dow Jones data. In late 2024, the “American exceptionalism” trade was thriving, with investors pouring money into U.S. stocks following Donald Trump’s election victory in November. However, the first quarter of 2025 has painted a different...