Stock Investors Look Past Iran War Despite Shaky Ceasefire
S&P 500 has erased all its losses tied to the conflict, even as oil and interest rates remain elevated.
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The US-Iran ceasefire agreed to a week ago has been shaky, but it’s holding. That’s the main reason US stocks reached a milestone yesterday: At the close of trading, the S&P had erased all its losses since the war broke out Feb. 28.
The recovery has plenty of investors shaking their heads in disbelief. The war has driven up costs for many companies and consumers, and raised the prospect of another huge wave of military spending by already-indebted countries. Generally, the world is a more unsettled place.