Why does that happen?
Simple reason really
A company has a value not dependent upon the value of its local currency. Thus, it is sort of an inflation hedge.
All other things being equal, if the dollar drops 50%, there would be a rise of 100% in U.S. stocks.
Just like a load of bread. If the dollar loses half of its value, then the $2 loaf of bread would become a $4 loaf of bread. A share of Microsoft would go up for the same reason.
Of course, the real world is a little more complicated, but the principle is the same.
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