Need to Know: The stock market is behaving a lot like it did during the Iraq War. Here’s the future if the pattern continues.

History doesn’t repeat, but it does rhyme.

The Iraq war of 2003 doesn’t have many parallels to Russia’s invasion of Ukraine, other than perhaps global unpopularity. But there seems to be at least one parallel — how stocks have behaved, as this chart shows.

Joachim Klement, strategist at Liberum Capital in London, says if stocks were to continue…