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Will the war escalate into a full-scale conflict? Will the Strait of Hormuz be closed? Will global energy supplies be hit? That’s why risk assets fell first.
But as time went on, even though the U.S. military has carried out airstrikes for the 12th straight day, the market found one thing: the conflict is still mainly concentrated on military targets and has not further evolved into a full-scale war. So capital started repricing risk assets again.
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