Hartnett said that will boost international stocks, with commodity producers in emerging markets poised to benefit from higher demand for artificial intelligence. Stock funds in Europe, Japan and other international developed markets have drawn a combined $104 billion this year, dwarfing the $25 billion that’s flowed into US funds, according to the BofA note citing EPFR Global. US assets have been roiled since President Donald Trump’s historic tariffs announcement in April, which raised worries about the end of America’s dominance in global economic and financial markets.
US trade policies are creating a “new world order” as investors swap the dollar and American equities for international assets, according to Bank of America Corp.’s Michael Hartnett.
The Trump administration’s “run it hot policy means new ‘anything b... [1972 chars]