Regardless of the incidents happening around the world today, global markets are shrugging off risk animosity. US dollars recorded its highest level and the European markets are going up on Tuesday.
According to the UBS Wealth Management's global chief economist, Paul Donovan, the stocks market continues to ignore the effects of the tragedy. He also added on CNN Money that it will also soon adjust to the "political implications".
"Aside from the tragedy of the human cost, markets will consider the political implications though it is too soon to draw any meaningful conclusions in that direction," Paul Donovan said.
In Europe, it was recorded that the Italian bank shares have the best performance. After the Italian government asked the parliament to spend €20 billion ($20.8 billion), this contributed to the performance of the bank. Since this was a strategy to save the shares, they called it "a potential bank rescue plan".
The news also revealed that traders are planning to change their money from Japanese yen into US Dollars since yen continuously declines. Though, the Bank of Japan decided to maintain the consistency of their interest rates which made the economic stimulus measures steady.
Meanwhile, Yahoo noted the closing of the Dow Jones industrial average <.DJI> and Nasdaq Composite <.IXIC> with high records. It also maintained a below 20,000 level blue-chip index. The pan-European STOXX 600 closed with 0.48 percent that also benefitted the German DAX <.GDAXI>, French CAC 40 <.FCHI> and British FTSE 100 <.FTSE>.
Since the investors have now become quick to adjustments, experts say this has something to do with the "resilience in financial markets". During the US Presidential election in November, the US stocks were revived having the S&P 500 increasing almost 6 percent. Bets were on that the plans of Donald Trump have a great impact on the business.
Meanwhile, analysts emphasized that the market "is focused on the Trump agenda". This means it is specifically fixated on the tax cuts, deregulation, and infrastructure spending.
Moreover, oil prices declined after Libya revealed that pipelines were reopened earlier this month. WTI crude went up to about 0.21 percent to $52.23 a barrel while Brent crude recorded 0.86 percent at $55.39 per barrel.
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