Globalist stocks aren’t popular
Investors are dumping shares of companies with international supply chains.
Why it matters: It’s yet another sign of a mass rethinking of the assumptions that underpinned the post-Cold War era of globalization.
State of play: Since supply chain issues emerged in the middle of last year, Goldman Sachs’ thematic “offshore” basket of stocks started to drastically underperform an “onshore” basket.
Photo credit: Data: Goldman Sachs; Chart: Axios Visuals
