TechFlow news, on January 20, according to Jinshi Data, Citigroup downgraded European equities for the first time in over a year, citing deteriorating relations between Brussels and Washington after U.S. President Trump attempted to annex Greenland. Strategists including Beata Manthey wrote that the latest escalation of transatlantic tensions and tariff uncertainty have weakened the near-term investment outlook for European stocks and damaged earnings prospects for continental European companies. They downgraded Europe ex-UK equities to "neutral" in global asset allocation due to soft near-term prospects. Meanwhile, Citigroup upgraded Japanese equities from "neutral" to "overweight." European markets, which had outperformed U.S. equities over the past year, plunged sharply on Monday as Trump announced new tariffs on countries supporting Greenland. The EU is considering retaliatory measures, including imposing tariffs on $108 billion worth of U.S. goods.
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