Investors and analysts returning to work this week after the festive break found an unwanted item on their desks: a geopolitical puzzle with a bevy of players, complex rules and no clear solution. They’ve spent every minute since trying to figure it out.
As the market turmoil sparked by the U.S. killing of an Iranian military leader eases, Wall Street is mapping out scenarios that range from retaliation by Tehran through proxies to tit-for-tat escalations.
