Russian Invasion Triggers ‘Scary’ Stock Market Correction—Here’s How Major Geopolitical Shocks Have Rattled Markets Before

The “knee-jerk reaction is always very scary,” but geopolitical shocks to the market are “not a time to panic,” Ives said, adding that similar selloffs since 2000 have traditionally presented a good buying opportunity for large, profitable tech stocks like Microsoft, Apple and Adobe—a sentimentOthers agree: Though a major conflict between Russia and Ukraine could be “devastating” overall, stocks will likely be able to withstand the geopolitical struggle, says LPL Financial chief market...

After the Sept. 11 terrorist attacks in 2001, the S&P 500, which fell as much as 2% Thursday before paring losses to 1%, tumbled nearly 12% over a period of 11 days, but it recouped those losses after a month—even though the resulting crisis plunged the nation into war. Similar shocks also resulted in short-lived selloffs: The S&P tumbled nearly 7% in one day after the Cuban Missile Crisis in 1962, but it recouped losses in four days, and though it fell 4% after military rebels attacked one of oil giant Saudi Aramco’s key refineries in 2019, the index bounced back after 41 days.

In the greatest geopolitical shock to U.S. markets, the S&P plunged as much as 19.8% in the six months after Japan attacked Pearl Harbor in December 1941, thrusting the nation into World War II; the index recovered within 307 days, but the war dragged on for four years.“Geopolitics have a history of rattling markets, and stocks are likely to be on edge for the next several weeks,” Lindsey Bell, chief markets strategist at Ally Invest, said in emailed comments Thursday.

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