Need to Know: The world’s ‘inward thinking’ is a threat to stocks, says Blackstone’s Byron Wien

A battered planet is battening down the hatches, and that’s likely a bad sign for stocks, according to one veteran Wall Street strategist.

Byron Wien is worried that an “inward shift” — a growing tendency to shut out the wider world — could sap interest away from riskier assets such as stocks.

The rise in tariffs and other trade-war fears figure prominently in Byron Wien’s jeremiad, of course.

But Wien, who delivers our call of the day, also is concerned about the U.S. ditching major alliances that deal with security and the environment.

What’s more, it’s troubling that companies are choosing to remain private, rather than sharing their growth with investors, says the vice chairman for Blackstone’s private wealth solutions group.

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