TechFlow news, on March 12, according to Jinshi Data, Goldman Sachs strategists said European and other overseas stock markets may continue to outperform U.S. equities for now, reiterating their recommendation to diversify investments beyond U.S. assets.
The average correlation among national stock markets has dropped to the lowest level since the 1990s. However, they noted that any further downward revision in expectations for U.S. economic growth could also hurt overseas markets.
If concerns about economic growth—not dominant tech stocks—are the main reason behind a further pullback in U.S. equities, historical performance suggests other markets would decline as well.
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