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The impact of the war probably won't be too significant anymore. The end of April is when most of the MAG7 companies announce their Q1 earnings reports. The U.S. stock market ultimately focuses on these companies' performance, not the war. War factors can only have a short-term effect. U.S. companies' valuations are based on the discounted cash flow of their future earnings. So, if the MAG7's Q1 earnings reports are strong, the decline will stop, and the previous broad rally will continue.
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