Business
In a Day of Wild Market Moves, Oil Is a New Haven
It’s natural to think that with the U.S. and Israel starting a new war in the Middle East, the fall in stock prices would come with a rush for havens. And it would be easy to mistake the big rise in the dollar for investors seeking safety in the normal way. But it would be wrong.
Instead, the moves on Tuesday look much more like an oil-price reaction, combined with cutbacks in overextended winning positions.
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