Wall Street Grapples With New Risk: A European Buyers’ Strike

Photographer: Chris J. Ratcliffe/Bloomberg US Commerce Secretary Howard Lutnick told the elites gathered in Davos that the Trump administration believes globalization is “a failed policy” that left America behind. A day later, his boss, President Donald Trump, predicted the US stock market would double from records he openly took credit for. There’s a stark tension lurking between the lines spoken by the two American billionaires: Foreign investors have had an insatiable appetite for US stocks over rece ...