The bill to overturn the Affordable Care Act wasn’t the only thing tested lately. As labels go, “America first” is coming under some strain, at least in the stock market.
The U.S. stock market has been the undisputed world heavyweight champ: Since the 2009 bear-market low, the SPDR S&P 500 exchange-traded fund (ticker: SPY) has shimmied up 244%, outgunning the 96% gain in the iShares MSCI All Country Ex-U.S. ETF (ACWX), and 93% for the iShares MSCI Emerging Markets ETF (EEM). Yet so far…
