Investing
Financial Market Reactions On Bhutto Assassination (INP, IFN, IIF, MINDX, IBN, TTM)
Published:
It is unfortunate to have to analyze tragic international or domestic terrorism news from a financial angle on horrible news such as the murder of a foreign leader or a challenger for that leadership ahead of an election. Pakistan opposition leader Benazir Bhutto was assassinated Thursday in a suicide attack at a campaign rally that also killed killed more 20 others (reports still vary). The news of her death was reported after the Pakistan markets were closed.
Investors are looking to see how far down the Karachi Stock Exchange will drop and one of the best proxies as to see how this will affect the Pakistani stocks is to look at the closest markets. India is the closest and most tied (good and bad) to Pakistan, and the worries that this could create additional instability in the region has the ETF and the Indian funds that trade in the U.S. down considerably:
This is potentially a very large political and geopolitical event that could end up with much greater repercussions than a mere 3%or 5% move. The hardest part of interpreting these price reactions is that Wall Street is staffed with a skeleton crew this week and part of next week. These are the go to stock and fund names to track the financial market reactions to the situation.
Jon C. Ogg
December 27, 2007
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