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Reproduced from LPL Research; Note: The average reflects figures from the original list. Not all market shock events were included in this reproduction; Table: Axios Visuals

U.S. stocks have already recovered their losses from tensions in the Middle East that flared when a U.S. airstrike killed Iranian Gen. Qasem Soleimani last week. The same is largely true for crude oil, which has erased all of its gains since the incident, and a number of other risk assets.

What's happening: "Welcome to the brave new world where it appears that little short of full-fledged world war between nuclear-armed powers would be required to have a durable impact on financial markets. And even then, some begin to wonder," Reuters' Sujata Rao and Dhara Ranasinghe write.

The big picture: The quick turnaround, though, follows a general trend of resilience in financial markets in response to geopolitical crisis events.

  • “Stocks could be volatile for a while, but the impact to stocks from geopolitical events historically has tended to be short-lived,” LPL Financial senior market strategist Ryan Detrick says in a note to clients.

Go deeper: Why the threat of an Iran war hasn't rattled the stock market

Go deeper

8 hours ago - World

China-Iran deal envisions massive investments from Beijing

Illustration: Aïda Amer/Axios

China and Iran have negotiated a deal that would see massive investments flow into Iran, oil flow out, and collaboration increase on defense and intelligence.

Why it matters: If the proposals become reality, Chinese cash, telecom infrastructure, railways and ports could offer new life to Iran’s sanctions-choked economy — or, critics fear, leave it inescapably beholden to Beijing.

Updated 8 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 13,048,249 — Total deaths: 571,685 — Total recoveries — 7,215,865Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 3,353,348— Total deaths: 135,524 — Total recoveries: 1,031,856 — Total tested: 40,282,176Map.
  3. World: WHO head: There will be no return to the "old normal" for foreseeable future — Hong Kong Disneyland closing due to surge.
  4. States: Houston mayor calls for two-week shutdownCalifornia orders sweeping rollback of open businesses — Cuomo says New York will use formula to determine if reopening schools is safe.
  5. Education: Los Angeles schools' move to online learning could be a nationwide tipping point.

House Judiciary Committee releases transcript of Geoffrey Berman testimony

Geoffrey Berman. Photo: Alex Wong/Getty Images

The House Judiciary Committee on Monday released the transcript of its closed-door interview with Geoffrey Berman, the former top federal prosecutor in Manhattan who was forced out by Attorney General Bill Barr last month.

Why it matters: House Democrats have seized on Berman's testimony, in which he claimed the attorney general sought to "entice" him into resigning so that he could be replaced by SEC chairman Jay Clayton, to bolster allegations that the Justice Department has been politicized under Barr.