New Delhi, June 21 -- Wall Street has spent much of the past few years shrugging off bad news. The world has witnessed a widespread pandemic, a major war between Russia and Ukraine in Europe, inflation across major economies, including the US, and most recently, a conflict between US and Iran in the Middle East.

These geopolitical developments have repeatedly tested investor confidence, yet US stocks have continued to hit new highs. S&P 500 is up nearly 80% over the past five years, the Nasdaq up more than 86%.

Even with the global oil supply shock in over the past three-plus months, Wall Street has remained bullish. A big reason for that resilience has been the AI boom, which has fueled hopes of stronger corporate earnings and a new wa...