A simple update showing the world (ex-US) vs. the US market in light of the punitive (to the wealthy and US corporations) Biden tax plan that should come as no surprise.
But our job is to deal with the macro we are presented. So if today’s knee jerk is the start of something worse in the US *, it would be helpful to realize that the amalgamated world (ex-US) has declined to a potential buy point relative to the US market. That’s a pretty handy thing to have happening if investors in US markets are going to seek asylum elsewhere, relatively at least.
Here is the longer-term, post-2008 view of the rest of the world in relation to US stocks.
* All due notice to the fact that news driven knee-jerks usually don’t follow through, at least right away.