If I am wrong somewhere, please correct me.
Due to the great dependence of the capital markets on America, political or structural changes in the USA represent a major risk for the entire market.
Trump and Musk are radically abolishing (or further reducing) controls on large companies in addition to creating a perfect divide in society.
Shareholders are reacting positively at first, which is why the market initially reacted so well to Trump's appointment.
But seriously: in the US, there were already only the absolutely necessary controls regarding the environment and social compatibility before, with the abolition of entire authorities, it is only a matter of time before a company causes great damage to the social environment or the environment due to pure greed for profit, which then has a massive impact on companies in the medium term.
The regulatory authorities are there for something, they are not an invention of the evil left to steal money.
In addition, Trump's tax cuts will probably exceed the debt savings. Contrary to expectations, inflation has not decreased, especially food prices have continued to rise, tariffs will not cause these prices to fall again.
I will $VEU (-0,07%) into the portfolio and thus slightly reduce the US $VWCE (-0,92%) slightly.
Additionally:
Good time to buy commodities? (Gold has also been on fire, apparently someone with big pockets has a lot of interest here at the moment).
You can also find an extreme example of this on YT:
https://www.youtube.com/watch?v=mYbbov5Oajg
