Last year began with a near universal consensus that the only nation worth investing in was the US. It ended with rival markets outrunning the US by wide margins, generating returns twice as high and making America look much less exceptional.
The US did not collapse, of course, because its economy and markets were held up by money rushing into artificial intelligence. The question now is how and when does AI mania end, and what will that mean for the world? Here are my top 10 trends for 2026:
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