Americans have once again been forced to debate the likelihood of World War III, thanks to the erratic behavior of a thin-skinned 71-year-old with a smartphone.
But for all the doomsday talk, U.S. stocks don’t seem to care much.
The S&P 500 Index SPX, -0.18% continues to set new records like clockwork, and is sitting on a 14% return since Jan. 1.
And if you really want a sign that the market doesn’t care about global hostilities, consider that the iShares MSCI South Korea Index Fund EWY, +0.55% is up more than double the S&P 500 this year.
If there was really concern of escalating tensions with North Korea leading to military action, do you really think investors would be so eager to plow money into their neighbor to the south?