Five Reasons Global Markets Are Surprisingly Resilient Despite War in Iran

Nearly two months into the conflict in Iran, global stock markets are staging a defiant rally. From the US to Taiwan and South Korea, a disconnect has emerged: while the geopolitical tensions remain high, equities are charging back toward all-time highs.

After an initial shock, financial markets have largely looked past the conflict to focus on corporate fundamentals, even as oil prices remain elevated. Investors are piling back into the artificial intelligence trade and emerging-market stocks, signaling that the worst of the volatility is now in the rearview mirror. The US dollar has mostly given back its gain from the start of the conflict.