West Asia war not fully priced in by markets, more equity erosion possible: Jefferies’ Chris Wood
NEW DELHI: Global equity markets have not fully priced in the economic fallout of the ongoing war in the Middle East, Christopher Wood, global head of equity strategy at Jefferies, said in his weekly note to investors.
Wood said markets have shown surprising resilience considering that it has been nearly two weeks since the U.S.‑Israel strikes on Iran.
“The explanation for the lack of a more dramatic sell‑off in stocks is markets’ continuing assumption that Donald Trump will do another TACO (Trump Always Chickens Out) at any time,” he wrote, adding that the conflict has a chance of ending quickly only if that scenario plays out.
Even in such a scenario, "there is the issue of what Iran’s and Israel’s stance will be," he warned.
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