Is the US stock market's global dominance falling by the day? Here's what a Bank of America strategist is claiming
US stock market has been seeing a dream run for the better part of two years, but its relentless run has now slowed down steadily, and the slump of tech stocks, along with a dip in the stock indexes has become a major point of concern for US investors now. Meanwhile, Bank of America strategist Hartnett is claiming that the outperformance of the US stock market may begin fading soon, according to a Bloomberg report.
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Is the US stock market going to face some dark times ahead?
The concept and narrative about the booming US stock market are slowly changing, and the equity markets of other countries, including the likes of Brazil, Germany, the UK, China, and Canada have yielded significantly better returns than the US in recent times, according to strategists including Hartnett. The biggest reason for the same could be because of the sudden faltering of the Magnificent 7 stocks including likes of Apple, Microsoft, and others, says Bloomberg.
Some investors may take their chances at markets beyond Wall Street, especially in the UK, whose markets are yielding comparatively better returns this year to date. Meanwhile, there are concerns that Treasury yields could drop by nearly 4% as President Donald Trump looks to tackle government spending after he came to power at the White House.
FAQs:
What are Magnificent 7 stocks? The Magnificent Seven stocks are a group of seven high-performing assets, including the likes of Alphabet, Amazon, Meta Platforms, and many more.
Has the US stock market
