Investors warn American exceptionalism 'not dead but diminishing'

Despite rallying stock markets

Industry leaders remained confident in American equities but said “the era of US exceptionalism is beginning to fade” amid looming deadlines for trade negotiations.

Their warnings came after North American equity funds took a hit in May, bleeding £622m and marking the first outflows posted in six months, according to the Investment Association's (IA) data. This was one month after US President Donald Trump imposed "wide-ranging tariffs" on dozens of countries, before halting most of them to allow time for negotiations. Fed officials split on future rate cuts as impact of Trump's tariffs bears down As a result, US stock markets, which took a severe blow in April, rallied from their recent lows, with the S&P 500 and Nasdaq hitting record closing...