CHANGE: It’s America First in Markets as S&P Thrives in Trump Trade Haze: S&P 500 adds 6% in 2018, the rest of the world declines 5.8%.

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“With stress breaking out from Turkey to Russia, equities in China bouncing around to the tune of $100 billion a day and talk of contagion everywhere, U.S. shares are turning into the safest bet. The S&P 500 is up 6 percent in 2018 and the rest of the world is down 5.8 percent, the biggest split in four years. Credit the impregnable U.S. earnings fortress if you want, but it’s hard to ignore the fingerprints of another American institution: the president, whose campaign over trade has torpedoed progress that last year sent emerging market stocks soaring the most in almost a decade. The fruits of a coordinated global economic recovery may still be out there, but right now it’s mainly investors in the U.S. who are enjoying them.”

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h/t GR

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