Wall Street Grapples With New Risk: A European Buyers' Strike

Wall Street Grapples With New Risk: A European Buyers' Strike

(Bloomberg) — US Commerce Secretary Howard Lutnick told the elites gathered in Davos that the Trump administration believes globalization is “a failed policy” that left America behind. A day later, his boss, President Donald Trump, predicted the US stock market would double from records he openly took credit for.

Wall Street grapples with new risk: A European buyers’ strike

Money managers from London to Berlin to Madrid have been increasingly fielding inquiries from clients about ways to at least lighten up on US assets

Wall Street Grapples With New Risk: A European Buyers Strike

Theres a stark tension lurking between the lines spoken by the two American billionaires: Foreign investors have had an insatiable appetite for US stocks over recent years, playing a huge role in driving benchmark indexes to the records Trump likes to boast about. Europeans, in particular, have been voracious buyers. And while Trump lowered the temperature toward Europe, concern lingers on Wall Street that his belligerence and belittlement of th…