There's a mismatch between market reactions and economic reality

Since the beginning of the Iran war, oil prices are up more than 50% compared to before the war in Iran, airlines have begun canceling flights amid gas shortages, and many countries are rationing fuel. And yet, despite all that, the S&P 500 hit another all-time high just this week.

Bryan Walsh is senior editorial director at Vox, where he wrote about why markets are so bad at pricing in crises. He joined “Marketplace” host Kai Ryssdal to talk about how this moment compares to early COVID days and what it will take for the market to overcome some of its economic blindness.

Click the media player above to hear their conversation.