Is it time to move out of the US stock market? In the past decade it has served investors very well, including many UK retail savers who have steadily switched funds out of the dejected London market for America.
But stock valuations are high, with a lot hanging on the performance of a handful of mega tech companies that have generated all the recent gains in the S&P 500 index.
Moreover, the US is already gearing up for next year’s presidential election — a huge political battle that seems certain to inflame public debate, and spread uncertainty, division and even fear. Hardly the best conditions for calm business decision-making.
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