May 19, 2022

Afghanistan Falls! The Taliban are back and bigger then ever.

Taliban fighters took over the Afghan capital as President Ashraf Ghani fled abroad, triggering a massive effort to airlift Western diplomats, civilians and Afghans likely to be targeted by the country’s new rulers.

At least three people were killed by gunfire Monday morning at the passenger terminal of Kabul’s international airport, where thousands of Afghans who fear for their lives after the Taliban takeover of the country have swarmed in hopes of getting an evacuation flight.

Witnesses reported seeing the prone, bloodied bodies lying on the ground just outside the terminal building. Officials at the U.S. Central Command weren’t immediately available for comment.

However, the impact to the stock market, with the Dow Jones Industrial Average DJIA , the S&P 500 index SPX and the Nasdaq Composite Index COMP trading at or near record highs, is unclear.

Futures, however, were tilting lower, with those for the S&P 500 ESU21 ES00 , the Dow YMU21 YM00 and the Nasdaq-100 NQU21 NQ00 all showing modest declines, but hardly indicating that the market’s bull run amid COVID-19 was in jeopardy.

For the most part, stock-market investors have been mostly sanguine amid the long-running conflict that has cost an estimated $2.261 trillion, according to research from Brown University’s Watson Institute of International Public Affairs, which also estimates that 241,000 people have died as a direct result of the war.

The Dow is up by nearly 270%, the S&P 500 has gained more than 300% and the Nasdaq Composite has climbed more than 700% since the fall of 2001.

It’s worth noting that the benchmark 10-year was yielding between 4% and 5% around that time.

Historically, military conflict doesn’t always have an impact on stocks, and war’s influence, if any, on investors’ psyches isn’t always clear-cut. The context and economic and market environments are often a bigger driver.

The U.S. was already in the throes of a recession when the attacks of 9/11 hit and the market initially dipped sharply after the attacks.

Markets currently are attempting to claw back from the hit caused by COVID-19 and the spread of the delta variant, with questions about the policy plans by the Federal Reserve, and other central banks, at the front of investors’ minds.

Still, military aggressions may result in some investors turning to bets on defense contractors, which could see a boost if the animosities flare up.

One popular way to play defense contractors broadly is the iShares U.S. Aerospace & Defense ITA exchange-traded fund, which was created in 2006 and is up 13.7% in 2021 thus far. The SPDR S&P Aerospace & Defense ETF XAR , which kicked off in 2011, is up 7% year to date

But don’t be surprised if the market’s reaction to the possibility of military tensions is counterintuitive. Markets don’t always respond to geopolitical events the way you think.

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0.35%
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-15.19%
TRON (TRX)
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Vectorium (VECT)
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Shiba Inu (SHIB)
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-9.25%
Dai (DAI)
$1.00
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Power Cash (PRCH)
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881.24%
Alex (ALEX)
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0.58%
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-3.51%
FTX Token (FTT)
$29.80
-5.68%
NEAR Protocol (NEAR)
$5.69
-14.31%
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$0.046122
0.00%
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$183.55
-10.45%
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$11.92
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-13.27%
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$2.74
-9.32%
Monero (XMR)
$152.63
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Ethereum Classic (ETC)
$19.67
-8.55%
BitTorrent (BTT)
$0.002702
1.61%
ApeCoin (APE)
$7.66
-13.74%
Uniswap (UNI)
$4.77
-12.07%
BitTorrent [OLD] (BTTOLD)
$0.001374
19.41%
Hedera (HBAR)
$0.097194
-9.95%
Elrond (EGLD)
$87.75
-13.05%
VeChain (VET)
$0.028657
-11.67%
Theta Fuel (TFUEL)
$0.059753
-14.54%
Magic Internet Money (MIM)
$1.00
0.25%
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$7.40
-12.64%
Axie Infinity (AXS)
$21.07
-1.73%
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$0.096813
5.75%
Bitcoin Cash ABC (BCHA)
$86.90
-0.64%
cETH (CETH)
$38.35
-7.78%
Filecoin (FIL)
$7.50
-11.64%
Decentraland (MANA)
$0.99
-16.55%
DeFiChain (DFI)
$2.79
-9.26%
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$1.62
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$1.00
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The Sandbox (SAND)
$1.16
-14.50%
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$14.25
-4.97%
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-11.74%
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$4.32
-7.91%
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$1,388.88
-11.43%
EOS (EOS)
$1.24
-9.41%
TrueUSD (TUSD)
$1.00
0.02%
Zcash (ZEC)
$95.15
-16.60%
Theta Network (THETA)
$1.17
-16.04%
Klaytn (KLAY)
$0.399829
-7.99%
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$28,718.00
-4.92%
YooShi (YOOSHI)
$0.000003
-12.05%
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$80.73
-14.09%
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$0.022607
-0.20%
Huobi Token (HT)
$7.00
-0.20%
The Graph (GRT)
$0.152602
-15.05%
BitTorrent (BTT)
$0.000001
-4.70%
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$0.086301
-2.59%
Terra (LUNA)
$0.000146
-21.80%
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$1.00
-0.09%
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$49.61
-11.02%
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-17.45%
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-9.60%
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$5.46
-4.52%
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$1.35
-16.31%
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$0.313801
-12.88%
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$0.022023
-0.07%
BitDAO (BIT)
$0.82
-3.22%
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$7.32
-19.79%
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$1.29
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Arweave (AR)
$14.08
-10.66%
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$9.67
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Zilliqa (ZIL)
$0.046558
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Kusama (KSM)
$74.15
-8.81%
Convex Finance (CVX)
$10.63
-13.79%
Sapphire (SAPP)
$0.70
35.32%
Amp (AMP)
$0.013250
-6.25%
Chiliz (CHZ)
$0.114107
-4.01%
BitcoinStaking (BSK)
$47.23
216.25%
Valkyrie Protocol (VKR)
$1.22
-13.48%
PAX Gold (PAXG)
$1,820.84
0.21%
Enjin Coin (ENJ)
$0.63
-13.06%
Waves (WAVES)
$5.85
-18.35%
Dash (DASH)
$54.25
-10.27%
Gala (GALA)
$0.075682
-14.49%
cUSDT (CUSDT)
$0.021768
0.00%
Loopring (LRC)
$0.448218
-9.16%
pTokens BTC (PBTC)
$45,430.00
-1.22%
Basic Attention Token (BAT)
$0.364963
-11.04%
Fei USD (FEI)
$1.00
0.07%
Osmosis (OSMO)
$1.44
-11.93%
Synthetix Network Token (SNX)
$2.39
-15.08%
Maiar DEX (MEX)
$0.000106
-13.50%
Celo (CELO)
$1.21
-15.30%
Gnosis (GNO)
$205.00
-10.42%
Fei Protocol (FEI)
$1.00
-0.63%
XDC Network (XDC)
$0.042441
-7.31%
Stacks (STX)
$0.492328
-13.98%
Harmony (ONE)
$0.042642
-14.00%
Decred (DCR)
$35.32
-7.27%
Lido DAO (LDO)
$1.37
-13.40%
Ekta (EKTA)
$3.78
3.46%
Mina Protocol (MINA)
$0.96
-13.95%
Green Satoshi Token (BSC) (GST)
$43.90
9.24%
Curve DAO Token (CRV)
$1.20
-14.04%
NEM (XEM)
$0.052356
-13.47%
Tether Gold (XAUT)
$1,863.95
0.01%
Holo (HOT)
$0.002509
-7.01%
Verasity (VRA)
$0.067412
-5.65%
Kava (KAVA)
$2.24
-15.18%
GuildFi (GF)
$2.03
-6.23%
Compound (COMP)
$62.31
-13.78%
Frax Share (FXS)
$7.07
-15.48%
Nexus Mutual (NXM)
$62.33
-11.22%
Thorstarter (XRUNE)
$0.62
6.40%
Tokenize Xchange (TKX)
$5.20
-6.27%
ECOMI (OMI)
$0.001541
-6.01%
Kadena (KDA)
$2.21
-24.19%
Wootrade Network (WOO)
$0.81
8.00%
OKC Token (OKT)
$24.58
-2.87%
Qtum (QTUM)
$3.71
-11.42%
FLEX Coin (FLEX)
$4.90
-0.57%
Bancor Network Token (BNT)
$1.33
-8.38%
Anyswap (ANY)
$16.67
4.73%
GXChain (GXC)
$4.64
173.82%
1inch (1INCH)
$0.90
-4.84%
hi Dollar (HI)
$0.375993
0.76%
IOST (IOST)
$0.015894
-10.69%
cBAT (CBAT)
$0.023192
6.02%
Dogebonk (DOBO)
$0.000000
14.70%
SuperRare (RARE)
$2.31
24.37%
Balancer (BAL)
$14.59
-2.78%
PEAKDEFI (PEAK)
$0.334352
52.12%
Invictus (IN)
$1,344.61
2.71%
ParaSwap (PSP)
$0.72
-10.57%
My Neighbor Alice (ALICE)
$20.13
-10.39%
Vectorspace AI (VXV)
$9.02
9.54%
Sovryn (SOV)
$17.93
-0.77%
RedFOX Labs (RFOX)
$0.242411
-13.80%
Samoyedcoin (SAMO)
$0.120191
2.66%
Rich Quack (QUACK)
$0.000000
-3.78%
CateCoin (CATE)
$0.000010
3.33%
Band Protocol (BAND)
$8.28
7.98%
Liquity USD (LUSD)
$1.00
-0.15%
Badger DAO (BADGER)
$34.68
12.62%
Livepeer (LPT)
$13.50
-10.18%
Snowbank (SB)
$3,867.87
1.07%
Serum (SRM)
$1.10
-11.93%
Xido Finance (XIDO)
$12.11
-4.43%
Popsicle Finance (ICE)
$33.87
-7.71%
Gitcoin (GTC)
$23.64
79.82%
Taboo Token (TABOO)
$0.031889
10.27%
Proton (XPR)
$0.040012
6.89%
NKN (NKN)
$0.52
3.89%
AllianceBlock (ALBT)
$1.02
-7.55%
Olympus (OHM)
$17.01
-1.29%
BTC Standard Hashrate Token (BTCST)
$44.40
21.20%
DerivaDAO (DDX)
$12.37
143.65%
SingularityNET (AGIX)
$0.340248
4.09%
JUNO (JUNO)
$6.58
-18.56%
BitMart Token (BMX)
$0.369266
-5.06%
HUSD (HUSD)
$1.00
-0.32%
Doge Army Token (DGAT)
$0.000000
-18.42%
Aave [OLD] (LEND)
$4.10
2.91%
Stratis (STRAX)
$2.36
18.61%
Ark (ARK)
$1.98
3.33%
Celsius Network (CEL)
$0.76
-9.49%
Secret (SCRT)
$1.89
-4.92%
Somnium Space CUBEs (CUBE)
$25.12
15.26%
USDD (USDD)
$1.00
-0.03%
yearn.finance (YFI)
$8,938.97
-11.62%
iExec RLC (RLC)
$4.43
3.79%
Bitcoin Gold (BTG)
$18.07
-9.67%
OMG Network (OMG)
$2.25
-12.25%
StormX (STMX)
$0.033770
4.03%
Orchid Protocol (OXT)
$0.53
-1.32%
DODO (DODO)
$1.14
-18.35%
Electroneum (ETN)
$0.017514
-11.29%
Rocket Pool (RPL)
$19.17
-9.71%
Marinade staked SOL (MSOL)
$51.04
-13.16%
Bitkub Coin (KUB)
$3.44
-4.22%
Storj (STORJ)
$2.14
4.68%
Coin of the champions (COC)
$0.000001
25.93%
Alien Worlds (TLM)
$0.240512
-3.92%
0x (ZRX)
$0.361698
-13.89%
Counterparty (XCP)
$16.41
9.87%
sBTC (SBTC)
$61,407.00
-0.74%
Moonbeam (GLMR)
$1.11
-19.17%
PlatON Network (LAT)
$0.130219
4.39%
Venus (XVS)
$26.21
1.29%
MiL.k Alliance (MLK)
$1.37
4.65%
OpenDAO (SOS)
$0.000008
11.03%
Hoge Finance (HOGE)
$0.000701
-3.60%
Bitcoin Diamond (BCD)
$1.58
0.84%
Verge (XVG)
$0.017958
2.11%
Thoreum (THOREUM)
$0.136253
996.25%
Circuits of Value (COVAL)
$0.164809
57.61%
Mango (MNGO)
$0.290404
20.62%
Evmos (EVMOS)
$1.50
-11.64%
Ravencoin (RVN)
$0.027998
-10.17%
Bounce (AUCTION)
$40.09
11.29%
Ampleforth (AMPL)
$1.00
17.08%
EDEN (EDEN)
$3.32
-5.68%
KardiaChain (KAI)
$0.094205
7.71%
TitanSwap (TITAN)
$2.87
0.32%
Wilder World (WILD)
$3.41
-3.99%
Tokamak Network (TON)
$7.07
7.81%
Reserve Rights Token (RSR)
$0.021342
4.60%
Klima DAO (KLIMA)
$205.37
-9.03%
Ankr (ANKR)
$0.034780
-14.79%
Mdex (MDX)
$0.323660
12.53%
Tranchess (CHESS)
$7.53
163.66%
Tokemak (TOKE)
$17.11
-11.41%
Dvision Network (DVI)
$1.11
-5.63%
Radicle (RAD)
$6.83
-10.85%
Audius (AUDIO)
$0.397648
-13.98%
Metahero (HERO)
$0.053117
4.15%
Qredo (QRDO)
$7.09
-7.11%
Alpha Venture DAO (ALPHA)
$0.62
14.38%
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