Wall Street Strategists Warn Not to Bet on Trump Rescuing Stocks Rattled by Iran War

“It goes back to the classic phrase about war, which is it has a momentum of its own once it starts,” said Bob Elliott, chief investment officer at New York-based investment firm Unlimited. “The ability to influence and respond to pain that exists in the markets isn’t necessarily as easy as it was during Liberation Day, where basically President Trump had full control over what the policy choices were.” The US-Israeli attack on Iran has destabilized the Middle East and threatens to deliver a new inflationary shock to the US economy by pushing up oil prices.