Cyberattacks and infrastructure outages. A single outage (CrowdStrike 2024) can halt airlines, banks, and hospitals; the target's stock and its insurers reprice.
What to watch: CISA advisories. It arrives event, and the effect typically lasts days.
It sits in tier 2 — Directional: Moves the index for days or weeks. Scheduled data releases, policy decisions, global spillovers, and the prices of money and energy. This is the tier most professional attention is spent on.
Its neighbourhood
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