Stock Market Today: Dow, S&P 500, Nasdaq Set to Open Down; Trump Tariff Fears; Palantir, Nvidia, Tesla, More Movers

Market moves suggest a verifiable rotation out of U.S. assets into European assets and this trend could persist over the long term, said BNP Paribas Markets 360 analysts in a note.

Still, it could take a long time before this switch is fully evident and investors will continue to invest in the U.S. for now.

“A story of broader diversification away from U.S. assets may only be verified over time,” the analysts said. “Support for U.S. assets may persist from domestic investors as well as the rest of the world.” Stable U.S. economic data and optimism about prospects for trade deals could prop up demand, the analysts said.