According to Euronext's CEO Stephane Boujnah, the United States is starting to resemble more like an emerging market rather than a developed nation. Boujnah expressed concerns over the prevailing fear in global financial markets following the implementation of extensive U.S. tariffs. He mentioned on France Inter radio that the transformation underway in the U.S. led to a sense of mourning as the country no longer mirrors the European values and institutions it once did, but rather mirrors traits of developing countries.

Boujnah highlighted how financial markets are adjusting to this new version of the United States announced by President Donald Trump through global tariffs on imports. These tariffs range from a minimum of 10% to targeted rates of up to 50% with the intention of revitalizing the country's industrial base. Despite these challenges, Boujnah noted a silver lining in the form of decreasing oil prices and long-term rates, along with capital outflows from the U.S. being redirected towards investments in Europe.