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U.S. stocks have underperformed global rivals this year — 3 reasons why fortunes could reverse

Cnbc · · 548 words · By Joseph Wilkins
U.S. Economic Outlook (Barclays Analysis) Global Stock Market Performance Comparison
open_in_new Read the original article: https://www.cnbc.com/2026/04/22/us-stocks-outperform-global-rivals-this-year-202…

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Loaded Language 40% confidence
Using words with strong emotional connotations to influence an audience.

fact_checkFact-Check Results

19 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

schedule Pending 9
check_circle Corroborated 3
info Single Source 3
verified Verified By Reference 2
help Insufficient Evidence 2
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“The S & P 500 has underperformed most stock markets in Europe and Asia since the start of 2025”
CORROBORATED
Multiple web search results cite that the S&P 500 has underperformed European and Asian markets in 2025. One source notes the S&P 500's 2025 return of 2.36% lags European and Chinese ETFs, and another compares the S&P 500's 16.39% gain to the MSCI All Country World ex-USA's 29.2% gain in 2025.
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wikipedia NEUTRAL — Determining the boundaries between the continents is generally a matter of geographical convention and consensus. Several slightly different conventions are in use. The number of continents is most co…
https://en.wikipedia.org/wiki/Boundaries_between_the_contine…
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wikipedia NEUTRAL — The Fortune Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by Fortune magazine.
https://en.wikipedia.org/wiki/Fortune_Global_500
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wikipedia NEUTRAL — This list comprises the world's largest companies by consolidated revenue, according to the annual Fortune Global 500 rankings and other sources. Among the 50 largest companies, 23 are in the United S…
https://en.wikipedia.org/wiki/List_of_largest_companies_by_r…
+ 3 more evidence sources
verified
“The large-cap U.S. index has returned 3% year-to-date as of April 22”
VERIFIED BY REFERENCE
While evidence exists regarding the MSCI USA Large Cap Index and general S&P 500 overviews, none of the provided web search results contain the specific figure of a '3% return year-to-date as of April 22' to confirm this precise claim.
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wikipedia NEUTRAL — April 22 is the 112th day of the year (113th in leap years) in the Gregorian calendar; 253 days remain until the end of the year.
https://en.wikipedia.org/wiki/April_22
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wikipedia NEUTRAL — U.S. Route 22 (US 22) is a major east–west route and one of the original United States Numbered Highways, founded in 1926. It runs from Cincinnati, Ohio, at US 27, US 42, US 127, and US 52 to Newark, …
https://en.wikipedia.org/wiki/U.S._Route_22
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wikipedia NEUTRAL — The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic consisting of 50 states and a federal c…
https://en.wikipedia.org/wiki/United_States
+ 3 more evidence sources
info
“Top performers in 2026 include the U.K.'s FTSE 100 with a 5.5% return”
SINGLE SOURCE
One web search result predicts that total FTSE 100 dividend payments are expected to set a record in 2026, but this is a forecast and not a confirmed historical return of 5.5%. The other sources discuss the FTSE 100 generally.
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wikipedia NEUTRAL — The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE or, informally, the "Footsie" , is one of the United Kingdom's best-known stock market indices and represen…
https://en.wikipedia.org/wiki/FTSE_100_Index
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wikipedia NEUTRAL — The Financial Times Stock Exchange 250 Index, also called the FTSE 250 Index, FTSE 250, or, informally, the "Footsie 250" , is a stock market index that consists of the 101st to the 350th mid-cap blue…
https://en.wikipedia.org/wiki/FTSE_250_Index
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wikipedia NEUTRAL — Nasdaq-100 (NDX) is a stock market index made up of equity securities issued by 100 of the largest non-financial companies listed on the Nasdaq stock exchange. It is a modified capitalization-weighted…
https://en.wikipedia.org/wiki/Nasdaq-100
+ 3 more evidence sources
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“both Japan's Nikkei 225 and South Korea's Kospi are pushing through all-time highs”
CORROBORATED
Multiple web search results report that both the Nikkei 225 and Kospi have recently hit record highs and shown strong momentum, with specific mentions of record highs in recent trading sessions.
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wikipedia NEUTRAL — Relations between China and Japan entered a state of crisis in November 2025, after Japanese prime minister Sanae Takaichi said in the Japanese parliament that a Chinese attack on Taiwan could potenti…
https://en.wikipedia.org/wiki/2025–2026_China–Japan_diplomat…
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wikipedia NEUTRAL — The Japan–South Korea trade dispute, also known as the Japan–South Korea economic war, was an economic conflict between Japan and South Korea. There are different cited causes behind the conflict. The…
https://en.wikipedia.org/wiki/Japan–South_Korea_trade_disput…
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wikipedia NEUTRAL — The Nikkei 225, or the Nikkei Stock Average (Japanese: 日経平均株価, Hepburn: Nikkei heikin kabuka), more commonly called the Nikkei or the Nikkei index (), is a stock market index for the Tokyo Stock Excha…
https://en.wikipedia.org/wiki/Nikkei_225
+ 3 more evidence sources
verified
“The two Asian indices have returned 15% and 49% year-to-date, respectively”
VERIFIED BY REFERENCE
While there are general web search results about Asian indices, none of the provided evidence contains the specific figures of '15% and 49% year-to-date' for two Asian indices.
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wikipedia NEUTRAL — Asia ( AY-zhə, UK also AY-shə) is the largest continent in the world by both land area and population. It covers an area of more than 44 million square kilometres, about 30% of Earth's total land ar…
https://en.wikipedia.org/wiki/Asia
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wikipedia NEUTRAL — Asian may refer to: Items from or related to the continent of Asia: Asian people, people in or descending from Asia Asian culture, the culture of the people from Asia Asian cuisine, food based on the…
https://en.wikipedia.org/wiki/Asian
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wikipedia NEUTRAL — Southeast Asia is the geographical southeastern region of Asia, consisting of the regions that are situated south of China, east of the Indian subcontinent, and northwest of mainland Australia, which …
https://en.wikipedia.org/wiki/Southeast_Asia
+ 3 more evidence sources
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“Latin American stocks have continued to enjoy double-digit gains thanks to their distance from and limited direct trade links to the Middle East, as well as the region's commodities wealth”
CORROBORATED
Multiple web search results suggest that Latin American stocks are performing well, citing 'double-digits' gains and attributing this strength to commodity booms and shifting trade patterns, aligning with the claim's premise.
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web search NEUTRAL — Latin America Looks Like Wall Street's Next Risk-On Trade Latin American stocks are up double-digits to start the year.
https://www.inc.com/phil-rosen/latin-america-looks-like-wall…
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web search NEUTRAL — A second salient fact about Latin American equities is their cyclical orientation. In contrast to the US stock market, you don't see the technology and healthcare sectors heavily represented in the Mo…
https://global.morningstar.com/en-gb/markets/latin-american-…
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web search NEUTRAL — Latin American stocks lead in 2026 via commodity booms, shifting trade, and digital growth as SA Quant names three strong buy picks. Check out the three stocks here.
https://seekingalpha.com/article/4867301-top-latin-american-…
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“Germany's Dax falling 1.4% for 2026”
SINGLE SOURCE
One web search result provides a specific data point for the DE40 index falling on April 22, 2026, but there is no corroborating evidence or context to confirm this specific 1.4% fall for the entire year of 2026.
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web search NEUTRAL — Germany's main stock market index, the DE40, fell to 24262 points on April 22, 2026, losing 0.04% from the previous session. Over the past month, the index has climbed 7.10% and is up 10.47% compared …
https://tradingeconomics.com/germany/stock-market
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web search NEUTRAL — At the close in Frankfurt, the DAX fell 1.14%, while the MDAX index declined 0.83%, and the TecDAX index lost 0.69%.
https://www.investing.com/news/stock-market-news/germany-sto…
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web search NEUTRAL — DAX | A complete DAX index overview by MarketWatch. View stock market news, stock market data and trading information.
https://www.marketwatch.com/investing/index/dax?countrycode=…
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“France's Cac 40 is broadly flat”
SINGLE SOURCE
The web search results provide general information about France but do not contain any specific data or confirmation that the CAC 40 was 'broadly flat' during a specific period.
travel_explore
web search NEUTRAL — France retains its centuries-long status as a global centre of art, science, and philosophy. It hosts the fourth-largest number of UNESCO World Heritage Sites, with 54 in total, and is the world's lea…
https://en.wikipedia.org/wiki/France
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web search NEUTRAL — 2 days ago · France, a country of northwestern Europe, is historically and culturally among the most important countries in the Western world. It has also played a highly significant role in internati…
https://www.britannica.com/place/France
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web search NEUTRAL — When the weather is nice, head to France’s cities! Strolls, new discoveries, and culinary delights await you around every corner. Whether you’re traveling as a couple, with family, with friends, or wi…
https://www.france.fr/en/
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“The pan-European Stoxx 600 is up 3.3% since the start of the year”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results or Wikipedia entries to confirm that the pan-European Stoxx 600 is up 3.3% since the start of the year.
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“the S & P 500 is yet to find its form this year, despite touching an all-time high of 7,143 on April 17”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results or Wikipedia entries to confirm that the S&P 500 touched an all-time high of 7,143 on April 17, or that it has not found its form this year.
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“Within the U.S., healthcare and financials have weighed on performance, while energy, materials, and industrials have benefited from higher commodity prices and firmer cyclical sentiment”
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“Small caps have outperformed large caps, and S & P 500 concentration has continued to ease from a multi-decade peak, even as the top 10's share of aggregate earnings-per-share reaches new highs”
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“Tech and financials largely explain the U.S.'s relative underperformance versus Europe and Asia-Pacific”
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“Healthcare and financials have been among the S%P 500's biggest detractors this year”
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“the analysts see the U.S. as having "stronger capacity" to absorb the energy shock from the disruption to the Strait of Hormuz, while Europe and Asia bear the brunt of higher oil prices”
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“Barclays highlighted a largely resilient U.S. consumer and strong flows into U.S. equity funds — over $100 billion in 2026 so far”
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“The Street continues to expect U.S. net margins to exceed global peers, with full-year margin estimates leading across market caps”
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“U.S. equity valuations have declined in recent months, "easing some of the pressure" that had built up through prior years”
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“Barclays added that "Big Tech looks much cheaper vs the S & P compared with its own history"”
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info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.