Stocks Show Little Geopolitical Worry After $16 Trillion Rally
And the Federal Reserve’s interest-rate cut this week has all but cemented confidence on further gains into the year end.
Photographer: Michael Nagle/Bloomberg
It’s long been a somewhat unseemly fact about financial markets: They, and the humans who make them whir, must be dispassionate when it comes to the affairs of the world.
Take the state of play right now: Equities are at record highs after a rally that added $16 trillion in market value this year, oil is near the lowest levels of the last four years, and risk taking abounds in everything from cryptocurrencies to meme stocks. Expected volatility in the US stock market is hovering around one-year lows.