Market Expectations Are Too High, Morgan Stanley's Wilson Says

The video discusses future investment strategies, focusing on tariffs and their impact on international markets, particularly China and the US. It highlights concerns about high market expectations in the US and the potential for these to decrease. The discussion also covers US exceptionalism in market performance and the likelihood of this gap closing with global markets. Finally, it examines trends in US growth stocks and small caps, noting significant market adjustments.

What does the speaker mean by 'decoupling' in the context of the US and global markets?

According to the text, what has been the performance of US growth stocks and small caps in the market?