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With a "truce" in the U.S.-China trade war and a clear resolution to Brexit uncertainty, geopolitics appeared destined to be on put the back-burner in the first half of 2020. One drone strike later, and suddenly financial markets are scrambling to discount the possibility and potential ramifications of escalating military action in the Middle East after a U.S. missile killed a top Iranian military official in Baghdad. After closing out 2019 on a five-week winning streak, US equity markets stumbled out of the gates in the new decade.