STOCKS | JPMorgan's Fabio Bassi Says Europe May Lag Global Markets if AI Remains Dominant

JPMorgan cross-asset strategy head Fabio Bassi said European stocks may continue to underperform global peers as long as artificial intelligence remains the main market theme. According to Odaily, he said that if the AI theme stays dominant, Europe will not be able to close the gap with other markets. Bassi cited structural headwinds in Europe, including higher policy rates, elevated energy prices and lower productivity. He also said European markets still have support from a medium-term macroeconomic perspective. He added that Europe's large number of export-oriented companies would benefit if the global economy remains resilient.