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Fear First, Facts Later: A Short History of Stock Market Drawdowns During Military Crises

Fear First, Facts Later: A Short History of Stock Market Drawdowns During Military Crises

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When military threats hit the news, markets rarely wait for answers. They move on fear.

In this week’s episode, Jake McClure looks at how markets have responded to war scares and real conflicts throughout history, from Greenland’s recent market shock to Ukraine, Iraq, 9/11, Pearl Harbor, and even World War I. The pattern is surprisingly consistent and often misunderstood.

This is not about politics or predicting wars. It is about understanding why uncertainty causes investors to sell, why the biggest declines often happen before the first shot is fired, and how long-term investors can learn to separate emotion from evidence.

If the news ever makes you question your portfolio, this episode offers something better than opinions: perspective.

This episode was recorded on January 23, 2026.

If you would like to contact us, please send an email to us at advisingteam@tpwc.com. We are happy to address any of your questions about Economics and Finance.

If you are ready and would like to book an appointment either in office or over the phone, you can also send a message to us through the contact form on our website TPWC.com.

** The information provided in this episode is for educational purposes only and should not be considered investment advice. We are “The Personal Wealth Coach,” which is also the name of an SEC-registered investment advisory firm. However, being registered with the SEC does not authorize us to provide investment advice. Investment advice should be personalized, offered in a private setting, and be in the best interests of the individual as a fiduciary. If we make any fraudulent statements, you should report them to the SEC. The information presented in this educational episode has been obtained from sources that we deem to be reliable, but we make no warranty or guarantee as to the completeness or accuracy of said information.

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