0604 GMT - A provision in President Trump's tax bill dubbed the "revenge tax" could hurt foreign appetite for U.S. assets and rekindle investor interest in European markets, Goldman Sachs equity strategists say. The measure, Section 899, would give the U.S. power to introduce taxes of up to 20% on foreigners with U.S. investments. European investor allocations to the U.S. rose to 45% by the fourth quarter of 2024 from 15% in 2009, but there are now signs of a reversal, the strategists say in a research note. European investors are less skeptical about the continent's prospects and domestic investments are gaining momentum, Goldman Sachs says. The Stoxx Europe 600 is up 8% since the beginning of 2025. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

June 04, 2025 02:05 ET (06:05 GMT)

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