What Afghanistan Tension Means For The Market
With tensions continuing to rise in Afghanistan due to the take over by the Taliban and recent airport bombings, experts are beginning to become concerned about what these new problems mean for the U.S. economy and Americans in general.
Recently on “Varney & Co.,” Michael Lee Strategy founder Michael Lee spoke about what he thinks will happen to the markets here in the United States, “We’ve just entered another level of uncertainty to the market,” Lee said. “And if there’s one thing markets don’t like, it’s uncertainty. And what you’ve seen in the last half an hour, 40 minutes, is you seen gold rally, you’ve seen the 30-year bond rally — all these flights to safety while equities and risk assets have sold off.”
Lee then said that the Biden Administration’s “economic agenda is as big a disaster as their Afghanistan plan. So I’d say anything that stops that in its tracks is a net positive.”
“But now you’ve created instability in the world. And until the market can put a price on that, you know, you have an overhang on equities and risk assets until we can kind of figure out what’s next.”
It’s still unclear how President Biden will deal with the Afghanistan problem. Following the suicide bombing near the Kabul airport which killed 12 U.S. service men, the White House strangely cleared President Joe Biden’s schedule for him so he can focus on the attack.
Kamala Harris who was also supposed to make a stop in California as she returned from Asia cancelled her plans and was immediately flown back to Washington.
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