2025 年，全球股市将超过美国市场，标志着投资者信心的转变。 Global stocks outpace U.S. market in 2025, signaling a shift in investor confidence.

2025 年，全球股市的表现优于美国市场，来自 22 个发达经济体的股票指数上涨 7.5%，而标准普尔 500 指数上涨 1.7%。 In 2025, global stock markets have outperformed the U.S. market, with an index of stocks from 22 developed economies rising 7.5% compared to the S&P 500's 1.7% increase. 这标志着美国与之前的市场主导地位不同，原因包括美元走强、其他国家央行降息以及对美国科技股定价的担忧。 This marks a shift from the U.S.'s previous market dominance due to factors including the U.S. dollar's strength, central banks in other countries cutting interest rates, and concerns over the pricing of U.S. tech stocks. 这一趋势表明投资者对美国例外论的信心下降。 This trend suggests a decline in investor confidence in U.S. exceptionalism.