MORGAN CHASE: EUROPEAN STOCK MARKETS OR CONTINUED GLOBAL RUN-OFF DURING THE AI-DOMINATED MARKET

On 18 July, Fabio Bassi, head of Morgan Chase cross-assets strategy, stated that as long as artificial intelligence remained the dominant market, European stock market performance could continue to lag behind other major global markets. Bassi said: “If the AI theme remains dominant, I do not think Europe can bridge the gap with other markets.” He noted that Europe faced structural resistance, such as high policy interest rates, high energy prices and low productivity. However, in his view, European markets still had supporting factors from a medium-term macroeconomic perspective. With a large number of export-oriented enterprises in Europe, European stock markets would benefit from a global economy that remained resilient。