While escalating tensions in the Middle East derailed the stock market’s strong start in 2020, some sectors of the market are rising on the news
start in 2020, some sectors of the market are rising on the news even as nervous Wall Street investors sell assets amid increasing geopolitical risk ., ‘war stocks’—companies in the defense industry—have climbed: Over the last five days of trading, the SPDR S&P Aerospace & Defense ETF rose almost 4%, while the iShares U.S. Aerospace & Defense ETF was up 2.5%.
Shares of energy and oil companies have risen as well, alongside the surge in oil prices which shot up 4% on Friday, and have now hit above $70 per barrel for the first time in three months. Since the start of last week, As the U.S. awaits Iran’s promised retaliation—which could include cyberattacks against American banks and universities—cybersecurity stocks have also jumped in recent days: The ETFMG Prime Cyber Security ETF , for instance, has risen nearly 2.5% over the last five days.
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