War, inflation and Trump’s tariffs have shaken the US. Why does the stock market keep going up?
Why this matters: a developing story that could shape the day's news cycle.
Wall Street has proved incredibly resilient to instability, and while consumer confidence has dipped, shares have soared. It was a dark Friday for Wall Street on 27 March. Oil prices were climbing and the war with Iran raged on. Markets responded accordingly, with the Dow and Nasdaq entering correction territory, falling more than 10% below their peak, after a month of selloffs.Fast forward seven weeks later to 13 May, and the situation in Iran only looked marginally better. Oil prices were high, and the strait of Hormuz was still closed. Peace talks with Iran seemed tenuous, even with the pressures of high gas prices. Donald Trump on Wednesday said he is “not even a little bit” motivated by Americans’ financial situation to end the war. Continue reading...