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Wall Street Turns Defensive as Iran War Drives Volatility
【Wall Street Turns Defensive as Iran War Drives Volatility】Money managers are shifting defensive as the Iran war fuels sharp market swings, with the S&P 500 whipsawing on headlines and oil surging about 50% since late February. David Royal of Thrivent said, “There’s not a clear end game for market disruption,” while adding, “Markets bottom when uncertainty is at its maximum.” Florian Ielpo of Lombard Odier cut risk exposure, saying, “Sometimes there is a shock and you need to be disinvested.” Investors are rotating into value, bonds and hedges, while watching oil near $110 and assessing prolonged economic risks.