EDITOR'S NOTE
Markets didn't seem quite sure on Monday what to make of escalated tensions in the Middle East.
An analysis by CNBC's Jesse Pound shows stocks of defense companies outperform the S&P six months following a Middle East crisis.
At this moment, it's unclear how big of a crisis we're witnessing, which is perhaps why markets were relatively calm on Monday. Still, no one is sounding the all-clear.
Some Wall Street analysts are looking for a deeper sell-off — perhaps even a 10% correction — writes CNBC's Yun Li. And it's not just because of Iran.
“The extreme overbought condition and excessive optimism set up an environment that was ripe for a tactical correction," Tony Dwyer, chief market strategist at Canaccord Genuity, said in a note Monday, "and the developing Iranian conflict may act as a catalyst for one.”
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