America's Stock-market Boom Will End In 2025 As Markets Punish The Us For Its Yawning Deficits, Rockefeller Chairman Says

iStock; Rebecca Zisser/BIRuchir Sharma says the trend of US stocks outperforming the rest of the world may end in 2025.The Rockefeller chairman pointed to signs that the stock rally in the US looked unsustainable.He said investors' growing attention to the rising deficit in the US may be a turning point.The market expert Ruchir Sharma says that the stock market's momentum looks likely to sputter in 2025 and that it could falter as investors grow wary of the US's mounting debt problems.In an op-ed article for the Financial Times published on Monday, the Rockefeller International chairman said he believed the US stock market could soon underperform global peers, breaking a long-running trend of US outperformance.He estimated that over the next year the top stocks in the US could underperform the global market by about 10% — reflecting a much worse performance than in 2024, when the top US stocks outperformed the market by about 20%."Momentum investing looks poised to crash in a way that could hit many investors hard," Sharma wrote.Speaking to CNBC later on Monday, Sharma pointed to signs that the trend of US outperformance looked unsustainable.For one, valuations in the US remain high, but sentiment is more bullish compared with other areas of the world.The US economy makes up about 30% of the global economy, but US stocks make up about 70% of the global equity market, Sharma said.