Svmuu News: Michael Hartnett of Bank of America stated that a protracted war in Iran poses a risk to the bank-led rally in Japan and Europe, as investors are abandoning these markets in favor of crude oil and the U.S. dollar. The strategist noted that investors may shift toward assets that are “beneficiaries of a prolonged conflict,” at the expense of “oil-importing nations with minimal exposure to energy stocks,” such as South Korea, Japan, and Europe. U.S. tech stocks and the global defense industry are sectors likely to benefit from this rotation. This trend has already begun to emerge since the U.S. and Israel launched attacks on Iran and the conflict escalated. European stock markets are heading for their steepest weekly decline since the tariff turmoil of April last year, and the same is true for Japan’s Nikkei 225 index. South Korea’s stock market has experienced sharp volatility, with the KOSPI index posting both a record decline and its largest single-day gain since 2008. (Jin Shi)