Markets Are Forward Looking, But Not Psychic
Record stock market highs leave plenty of scope for nasty reactions to disappointments.
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Welcome to the award-winning Money Distilled newsletter. I’m John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money.
It’s a source of some confusion (to me, at least) that the Iran war, the de facto closure of the Strait of Hormuz, and the resulting impact on the energy market, have been greeted with general equanimity by global equity markets.