Darius McDermott: Are we seeing the end of US exceptionalism?

The Euro Stoxx 50 Index is up 10.8% since the start of the year

clock • 5 min read

Thus far, it looks like Donald Trump is working hard to Make Europe Great Again rather than Making America Great Again, writes Darius McDermott

It may feel like decades, but it is only two months since Donald Trump took up his place as the 47th President of the US. It hasn't been boring, as he has ripped up historic alliances, announced (and cancelled) trade tariffs, and threatened to annex sovereign nations. For financial markets, it has sounded the death knell for US exceptionalism. The first significant change, as Trump has settled into office, has been the unwinding of the ‘Trump trade' – the wave of exuberance that saw the technology giants, the dollar, Bitcoin and banks gain after Trump's election in anticipation of tax cu...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Chaos is not a ladder: Navigating human behaviour at times of market stress

Chaos is not a ladder: Navigating human behaviour at times of market stress

'It is important to maintain perspective'

Sacha Chorley
clock 09 March 2026 • 4 min read
Four reasons why direct engagement can still make a difference

Four reasons why direct engagement can still make a difference

'Quantitative data arguably tells only half the story'

Simon Wood
clock 05 March 2026 • 4 min read
Darius McDermott: Is income under pressure?

Darius McDermott: Is income under pressure?

‘The period of abundant income is ebbing'

Darius McDermott
clock 04 March 2026 • 5 min read