Wall Street sours on itself and points clients to China and Europe

The great Wall Street exodus is on. At least, that’s the advice of major American investment banks, who are calling time on the US sharemarket’s two-year bull run and recommending that clients look to Europe or China for better returns as the world’s largest economy wobbles.

The S&P 500 has been teetering on the edge of a correction, having dropped almost 10 per cent from its record on February 19, amid investor anxiety about US President Donald Trump’s trade tariffs, deep cuts to federal spending and the chances of a government shut-down by Friday.

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