1. The Kospi index is still up 24% year-to-date and this correction will probably be the last chance to get in on the memory chips trade.

2. UK Large caps offer shelter in the storm.

“The UK market is tilted heavily toward commodities and defensive sectors, along with a sizable share of aerospace and defense, and thus serves as an effective ‘geopolitical hedge’ within equity portfolios,” say Citi Strategists led by Beata Manthey.

3. Additionally, the FTSE100 trades at relatively attractive valuations.

The UK market has been shunned by investors and global asset managers for years.

The FTSE100 now trades at 14.5 times earnings, up from 12.5 times a year ago, suggesting the period of extreme cheapness in the UK market has passed. However, it remains compelling relative to the US, which trades at 21.3 times, and Japan at 23 times. And this, just as the outlook for profits at UK companies starts to brighten.

4. Gold and silver tumbled despite rapidly rising global uncertainty.

5. “AI will drive the great acceleration, not the great depression”, says Kathy Wood.

“Simultaneously, AI and the innovation platforms it is accelerating—robotics, energy storage, public blockchains, multiomics technology—are converging on critical cost and performance thresholds. The potential result is The Great Acceleration, a productivity boom in which economic output skyrockets. The convergence of AI systems and robots, for example, is likely to evolve into a recursive loop enabling better AI systems and robots, a glimpse at the reasons we believe global real gross domestic output (GDP) growth will accelerate from 3%, which it has averaged during the past 125 years, to 7-8%+, more than double the International Monetary Fund’s (IMF’s) 3.1% forecast, by 2030, as shown below.”

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