So I thought this too (maybe still instinctually do bc my logic is right there with you?) However I’m repeatedly Klompf’ing my head against things due to that being disproven nearly every single time the position I divine is inverse what is the reported sentiment at the moment— this is especially noticeable when prospecting foreign and emerging markets via both stocks and derivatives (a lot of positions tend to be utilizing leveraged sector or region ETFs - so no doi/doy (?) of course .

Exemple gratia: for the past two weeks small island nations have not just their share of same sector-wide macroeconomic levers ongoing - but from an epidemiological standpoint the risk of repeated outbreak/contagion in a smaller closed system if not brought to zero cases of something mildly transferable is quite astronomical (not to mention non human vectors if said virus might pass to wildlife, mutate there (into a multitude of generations in fractional amount of time it can develop variations in human host) and then through contact with a human