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...

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