With the US underperforming other markets around the world over the last few weeks, we’ve seen its percentage of world equity market cap begin to dip and break down.  In mid-2016, the US made up nearly 38% of world market cap, but as shown below, as of yesterday this reading had dipped to 36.1%.  That’s the lowest level seen since mid-July, and it’s further indication that election hedging is causing a lot of the recent weakness for stocks.



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