This year, global stock markets have outperformed the US market, with a 7.5% rise in stocks from 22 developed economies compared to a mere 1.7% for the S&P 500. Factors contributing to this shift include a stronger performance from international markets, concerns over US stock valuations, and a stronger dollar impacting US companies. Investors are reconsidering strategies, with some looking towards tech stocks in China. The trend suggests a potential end to US market dominance.