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Charlie Bilello, chief market strategist at Creative Planning, highlights a notable shift in the 2026 year-to-date performance of global equities.
Emerging and international stocks are outperforming the S&P 500, value stocks are ahead of growth stocks, and small and mid caps are outpacing large caps. Bilello characterizes this dynamic as the "reversal of everything," noting that the so-called Magnificent 7 stocks are in the red for the period.
Earlier in the year, Charlie Bilello noted that the S&P 500 recorded 22 year-to-date all-time highs. Bilello also highlighted the Nasdaq Composite surpassing 27,000 for the first time. These moves marked significant milestones for major U.S. equity indexes prior to the recent reversal in performance trends.