War, what is it good for? For European equities, nothing. European markets would have preferred to avoid the selloff following the strikes in Iran. While U.S. equities are only slightly down since the start of the week, the Euro Stoxx 50 index has already erased the last three months of gains. With oil prices surging and no end of the fighting in sight, are international stocks now an asset class to avoid? Not necessarily—in fact, investors might be able to find some quality stocks on sale for the first time in a while.
