Which stockmarkets have benefited from the chaos on Wall Street?

SINCE DONALD TRUMP’S inauguration on January 20th the S&P 500 index of America’s biggest firms has fallen by more than 9%; the tech-heavy Nasdaq has dropped by almost 15%. The tech giants that powered Wall Street’s rise—Alphabet, Apple, Nvidia and the rest of the so-called “Magnificent Seven”—have lost a quarter of their value. Investors have scrambled into havens such as gold, or sought to diversify by buying shares listed elsewhere (see chart 1).