Why the stock market refuses to plunge on Russia-Ukraine crisis

All in all, the stock market is hanging tough in what has been a turbulent two weeks for humanity.

The Dow Jones Industrial Average is up more than 600 points on Wednesday as of this writing. Both the S&P 500 and Nasdaq Composite are nearing gains of 2%. All three major indexes are nicely off the lows hit by the close of trading on Feb. 23, a mere hours before Russia invaded Ukraine.

Every member of the FAANG [Facebook/Meta, Apple, Amazon, Netflix, Google/Alphabet] cohort has gained in the…


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