The US capture of Venezuela’s Nicolás Maduro has ushered in a new era of uncertainty. Politicians and strategists may still be assessing its implications. But investors have voted with their wallets — and they clearly think Donald Trump’s “Donroe doctrine”, a mangled version of the 19th-century Monroe doctrine, will be exceedingly positive for US stocks.
For evidence, look at US oilfield services companies such as SLB, Halliburton, Baker Hughes and Weatherford. Shares in these groups, typically hired by oil companies to drill wells and build associated infrastructure, collectively rose almost 7 per cent on Monday, creating about $10bn of market value, before wobbling a little on Tuesday.
