Global investors are diversifying their portfolios away from U.S. stocks:

For every $100 invested in global equity funds in 2026, only $26 is currently flowing into U.S. stocks, the lowest allocation since 2020.
The flow of capital into U.S. funds is on track for a second consecutive year of decline.
In comparison, at the peak in 2022, this ratio was 3.5 times higher at 92%.
International equity funds have attracted an average record-breaking inflow of +$65 billion per week over the past 4 weeks.
This is largely driven by South Korea, where investors have poured +$18 billion into Korean stocks over the past 6 weeks, the highest level ever.
Global investors are diversifying their portfolios away from the U.S.