According to online reports, Citi equity strategists downgraded the U.S. stock market, saying recent events such as DeepSeek, Europe's fiscal stance and trade tensions have strengthened their views on diversification outside the U.S. market. "From a GDP and EPS perspective, the drivers of 'exceptionalism' are fading," Beata Manthey and other bank strategists downgraded the U.S. stock market to neutral from overallocation. Citi said the U.S. market remains relatively expensive and the downward trend in EPS forecasts is intensifying. (Jin Shi)