US stocks are off to their worst start versus the global market since 1995

US stocks have started the year poorly compared to global markets, marking the worst start since 1995. The S&P 500 has declined by 1% while global markets have returned 8%. Over the past year, the global market has tripled the US market's returns. High US valuations and a concentration in tech stocks have made US equities more vulnerable, while global markets have shown lower valuations and better performance.