Phyrex posted on X. As January 2026 progresses, the U.S. stock market has been underperforming, with international stocks consuming nearly all net inflows into developed market equities. Currently, developed market equity funds have seen over $50 billion in net inflows, with international shares accounting for $39 billion. Europe and Japan have attracted $5 billion and $2 billion respectively, while the U.S. has only seen $771 million in inflows.
A significant factor affecting the U.S. market is U.S. President Donald Trump's stance on tariffs related to Greenland, which could lead to substantial capital withdrawal from U.S. stocks into international markets. The exposure of international markets to U.S. income is approximately 22%, which is insufficient to offset the risk of capital outflow from the U.S.
Trump's focus on securing votes appears to be diverging from his goal of revitalizing the U.S. stock market.