Trump’s Delay Fails to Calm Jitters Over War as Funds Trim Risk

President Donald Trump set off a rebound across markets by delaying planned air strikes against Iran’s energy assets, but many investors say the latest unpredictability just confirms their bias to cut back risk exposure.

US equity gauges jumped about 1% on Monday, and oil slid more than 10%, following Trump’s announcement of a five-day delay. Despite the rally, many fund managers are sticking to their view that investors should remain defensive due to the ongoing unpredictability.