Companies in the US are feeling the pressure. The slowdown in global growth, for one, has had an impact on demand says Martin Currie's Tom Walker.
Keith Barrett, head of research at Ingenious Asset Management, asks whether outperformance in US healthcare stocks can continue or if it is time to take profits.
I do not want to be awkward or deliberately contrarian but has anyone noticed US equities look expensive again?
Michael Arends – The Boston Company Asset Management, a BNY Mellon company
George Saffaye – The Boston Company Asset Management, a BNY Mellon company
By Esther Armstrong, BNY Mellon Investment Management
Why has performance suffered this year?