Stock markets: What are the three bags that beat the main Wall Street indices

Although, the United States Stock Market He obtained profits so far from 2025 and is not far from its historical maximum established last week there are other indices that obtained succulent profits such as, Mexico City, Paris and Hong Kong.

The difference in performance was so remarkable that An index of actions of 22 of 23 economies developed worldwide, excluding the United States, surpassed S&P 500: an increase of 7.5% to Monday compared to 1.7% of the referent of Wall Street.

The United States loses leadership in stock markets

The disparity in performance has many causes, and if it continues, it would mark an abrupt turn after years of American exceptionalism. The United States Stock Market was the clear winner for so long among global marketslargely because the growth of the US economy has been much stronger and more stable than in almost any other place.

But the deep division means that many other stock markets now do not seem as expensive as Wall Street, where Critics say that the prices of many actions rose too fast in relation to the profits of their companies. And the actions of large technological ones seem particularly expensive for some.

The strategist of Morgan Stanley Michael Wilson commented that many of his clients in recent weeks were asking If they should focus more outside the United States. That includes technological actions of Chinawhere a new company called Deepseek He shook the artificial intelligence industry by stating that he had developed a language model that could compete with great American rivals, but at a much lower cost.

Central banks in other countries also seem much more willing to cut interest rates, a movement that often tends to boost the prices of actions there. He European Central Bank reduced rates in JanuaryFor example. A day later, The Federal Reserve in Washington said it would keep the stable ratesand the minutes of that meeting indicate that those responsible for American policy may not move the fees for a while, since there are concerns about how the tariffs and other policies of President Donald Trump could maintain the rise pressure on inflation.

The increase in the value of the US dollar compared to other currencies also benefited large exporters from other countries. Meanwhile, some large American companies have already begun to cut their future profit forecasts, partly due to the impact that a stronger dollar will have on their results.

In Amazonthe changes in the securities of the currencies eliminated around US $ 900 million of their income during the last quarter, which totaled 187.8 billion dollars, for example. The technological giant warned that pain will probably continue and predicted an “unusually large unfavorable impact of approximately US $ 2,100 million” in its income in the current quarter due to changes in currencies.

It is still popular among global fund managers to bet on Apple, Nvidia and the other five actions of great American technological ones, but The recent superior performance of the actions outside the United States can show a “peak in the conviction of investors on American exceptionalism”wrote the Bank of America Michael Hartnett strategist in a recent report of Bofa Global Research.