Possible scenario
Direct U.S. Casualties
25% Chance
An Iranian or Iran-aligned attack kills U.S. personnel, forcing the White House to respond militarily despite election timing. The market treats this as a material escalation because the retaliation path becomes less controllable.
Initial impacts
- Riskier companies' borrowing costs Up
- Market volatility Up
- 10-year Treasury yield Down
- Oil prices Up
- US dollar Up
Secondary impacts
- Energy +4.0%
Portfolio impact
S&P 500-1.9%
Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.
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