US Stock Market Live: Dow futures up 430 points; More cuts likely for American assets

Janus Henderson Investors sees a potential reduction in its US exposure, underscoring an emerging shift away from the world’s largest financial market as the Trump administration’s policies undermine its appeal.

“We can see 10% of our clients’ exposure, or asset under management, reallocated from US assets” given signs of cracks in US exceptionalism, Ali Dibadj, chief executive officer of Janus Henderson Investors, said in an email interview this week. “Money can move to Europe, China, Middle East and Latin America.”

US stocks have narrowly averted a bear market, a far cry from their record streaks earlier this year. Some strategists argue that an era of American exceptionalism is ending with President Donald Trump’s sweeping agenda to remake the global trade order.