{"id":394623,"date":"2026-04-12T11:22:08","date_gmt":"2026-04-12T11:22:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/394623\/"},"modified":"2026-04-12T11:22:08","modified_gmt":"2026-04-12T11:22:08","slug":"markets-rise-on-crises-that-never-quite-happen-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/394623\/","title":{"rendered":"markets rise on crises that never quite happen \u2013 The Irish Times"},"content":{"rendered":"<p class=\"c-paragraph paywall \">Not ending <a href=\"https:\/\/www.irishtimes.com\/tags\/iran\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/tags\/iran\/\">Iranian<\/a> civilisation has many upsides, not least for investors. Indices enjoyed their best day in almost a year after <a href=\"https:\/\/www.irishtimes.com\/tags\/donald-trump\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/tags\/donald-trump\/\">Donald Trump<\/a> announced a ceasefire with Iran, marking yet another victory for the Taco (Trump always chickens out) traders.<\/p>\n<p class=\"c-paragraph paywall \">Nine of the S&amp;P 500\u2019s 10 best days during Trump\u2019s second term have come on similar bursts of relief \u2013 so much so that, while the index is up a relatively modest 13 per cent since his inauguration, those sessions alone would have delivered gains of roughly 35 per cent, according to Dow Jones Market Data.<\/p>\n<p class=\"c-paragraph paywall \">Trump might be inclined to view this as further proof of his greatness. \u201cI guess they say it was the biggest day in financial history,\u201d he said after markets soared following last April\u2019s tariff U-turn. \u201cIt\u2019s gonna be a record.\u201d<\/p>\n<p class=\"c-paragraph paywall \">However, unnerved investors might agree with Spanish prime minister Pedro S\u00e1nchez\u2019s comment about not applauding those \u201cwho set the world on fire just because they then show up with a bucket\u201d. <\/p>\n<p class=\"c-paragraph paywall \">In essence, stocks are profiting from the extinguishing of fires that didn\u2019t need to be lit, with returns being the product of relief rather than growth.<\/p>\n<p class=\"c-paragraph paywall \">Mind you, that relief is milder than it once was, almost priced in before the crisis even peaks. Instead of plummeting on the day that Trump warned that \u201ca whole civilisation will die tonight\u201d, the S&amp;P 500 actually advanced.<\/p>\n<p class=\"c-paragraph paywall \">Threatening Armageddon, it seems, no longer spooks investors.<\/p>\n<p class=\"c-paragraph paywall \">However, markets\u2019 calm carries an obvious risk: if aggressive rhetoric isn\u2019t punished, it may embolden further brinkmanship. Furthermore, strategic bluffs can take on a dangerous life of their own: as Bloomberg\u2019s John Authers noted, the Iran episode was as much Waco (Will the ayatollahs chicken out?) as it was Taco.<\/p>\n<p class=\"c-paragraph paywall \">One sees why investors err on the side of optimism, but the danger is that eventually, a crisis could spiral beyond Trump\u2019s control.<\/p>\n","protected":false},"excerpt":{"rendered":"Not ending Iranian civilisation has many upsides, not least for investors. Indices enjoyed their best day in almost&hellip;\n","protected":false},"author":2,"featured_media":394624,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,969,61,60,150432,32238],"class_list":{"0":"post-394623","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-donald-trump","10":"tag-ie","11":"tag-ireland","12":"tag-israel-iran-conflict","13":"tag-pedro-sanchez"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/394623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=394623"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/394623\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/394624"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=394623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=394623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=394623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}