美银：贸易战冲击“美国例外论”，美股全球资金占比骤降

Core Viewpoint - The ongoing trade war has raised doubts about the "American exceptionalism," leading to a significant decline in the share of global funds flowing into U.S. equities by 2025 [1] Group 1: Global Fund Flows - Year-to-date, U.S. equity funds have attracted less than half of the global fund inflows, compared to 72% in 2024 [1] - In the past three months, foreign capital inflows have slowed to less than $2 billion, down from $34 billion in January [1] Group 2: Political and Economic Factors - Trump's unstable trade policies, expanding fiscal deficits, and a depreciating dollar have dampened investor enthusiasm for U.S. assets [1] - Some asset management firms have warned that due to the political risks associated with the Trump administration, the U.S. is no longer considered a safe investment destination for foreign investors [1]