Bank of America warns U.S. exceptionalism may be peaking due to economic slowdown

Bank of America suggests that U.S. exceptionalism may be peaking. This is attributed to slowing government spending, reduced immigration, and a decline in artificial intelligence investments. Investors are heavily focused on U.S. markets, missing opportunities in undervalued sectors like Japanese and European banks. The "Magnificent Seven" tech stocks now represent a significant portion of Bank of America's assets. However, the firm notes that the factors driving U.S. market growth are expected to decline.