UBS: MARKET OVERREACTING TO MIDDLE EAST TENSIONSUBS says markets often overreact to geopolitical events, and the current Middle East crisis is no exception. Unlike past oil shocks, this conflict poses little threat to supply, with Iran making up just 1.6% of global output and no disruptions reported.UBS advises buying market dips, expecting only a mild pullback. It remains bullish on global equities, defense, and gold—forecasting gold to reach $3,500/oz by end-2025.Bottom line: UBS sees fears as overblown and expects markets to stay supported by policy, wages, and AI-driven growth.