European stocks are experiencing significant declines, with the Euro Stoxx 600 index underperforming the S&P 500 by 21%, marking the weakest relative performance in nearly 30 years. As of November 14, 2024, the Euro Stoxx is up just 5% year-to-date, while the S&P 500 has gained 24%. This trend highlights a broader issue, as European equities are projected to lag behind U.S. markets by the largest margin since 1995. The average retail investor has also struggled, achieving a return of only 3.7% year-to-date compared to the S&P 500's performance, indicating a potential fourth consecutive year of underperformance for retail investors. The current market conditions suggest a dismal outlook for European stocks, which are on track for the eighth year of underperformance out of the last nine.