Big institutional investors are shifting away from US markets as Donald Trump’s trade wars and the country’s escalating debt fuel fears about the dominance of American assets in global portfolios.
The US president’s erratic trade policy has shaken global markets in recent months, sparking a sharp sell-off in the US dollar and leaving Wall Street stocks lagging far behind European rivals this year.
Trump’s landmark tax bill, which is forecast to add $2.4tn to Washington’s debt over the next decade, has also increased pressure on US Treasuries.
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