Apr. 8 at 5:56 PM
International markets that are more reliant on energy imports outperformed the U.S., with the iShares MSCI Emerging Markets ETF
up roughly 5%. South Korea stocks surged 8%. Small caps, which have greater cyclical exposure, also climbed nearly 3%.
On the other hand, energy stocks that have surged since the start of the conflict faltered, with shares of Exxon Mobil
and Chevron
down more than 5%, each.
“Nothing goes up in a straight line, but I think we’ve made a strong base here,” said Stephen Tuckwood, director of investments at Modern Wealth Management. “A lot of the market has sold off pretty heavily since the beginning of the war, so [investors are] seeing some reasonable valuations again, and that’s kind of had a tailwind here.”
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