The looming "fiscal cliff" is causing the first signs of a shift away from U.S. markets into Europe, said Jim O'Neill, chairman of Goldman Sachs Asset Management.
"More and more longer-term investors are being influenced by [the fiscal cliff impasse] and are starting to think Europe has dealt with some of its long-term issues, even though the economies are weak." O'Neill told CNBC's "Squawk Box." "I detect the first signs of people shifting more towards Europe from the U.S."
He also referred to the talks over the fiscal cliff as business as usual in the nation's capital. "It's like a never-ending game in Washington," he said. "It's a bit farcical, really."
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