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Markets Shift to 'NACHO' Trade as Hormuz Closure Risk Looks Persistent
Global asset markets are shifting from the “TACO” trade to the “NACHO” trade as investors treat a closed Strait of Hormuz and high oil prices as a lasting backdrop. eToro analyst Zavier Wong said the market no longer expects an immediate solution to the Iran situation and is favoring energy stocks and cash-rich big tech companies.