Biden Supports Two-State Solution, Netanyahu Anticipates Gaza Incursion, Macron Advises Caution To Israel
Portfolio Pulse from Piero Cingari
During a press conference, U.S. President Joe Biden expressed support for a two-state solution to the Israel-Gaza conflict. The equity selloff intensified during Biden’s speech, resulting in the SPDR S&P 500 ETF Trust (NYSE:SPY) declining by 1.4% for the day, and the Invesco QQQ Trust (NASDAQ:QQQ) experiencing a 2.4% drop. The iShares 20+ Treasury Bond ETF (NASDAQ:TLT) fell by 2.5% due to pressure in the bond market.
October 25, 2023 | 7:22 pm
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NEGATIVE IMPACT
The Invesco QQQ Trust (NASDAQ:QQQ) experienced a 2.4% drop during Biden's speech.
The geopolitical tension and uncertainty surrounding the Israel-Gaza conflict led to a selloff in equities, impacting the QQQ ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (NYSE:SPY) declined by 1.4% during Biden's speech.
The geopolitical tension and uncertainty surrounding the Israel-Gaza conflict led to a selloff in equities, impacting the SPY ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The iShares 20+ Treasury Bond ETF (NASDAQ:TLT) fell by 2.5% due to pressure in the bond market.
The geopolitical tension and uncertainty surrounding the Israel-Gaza conflict led to pressure in the bond market, impacting the TLT ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100