Switch up your portfolio as the Israel-Hamas war threatens to fuel inflation and reshape global power, veteran analyst Larry McDonald says

• Americans may want to rejig their investments as the Israel-Hamas war rages, Larry McDonald says.
• He sees value in a "multipolar world portfolio" that protects against US inflation and debt risks.
• The market analyst says the S&P 500 has its drawbacks, with higher interest rates threatenening stocks.

US investors are overwhelmingly invested in America's financial markets and a future where it remains the dominant global superpower — but the Israel-Hamas conflict may signal it's time to diversify, Larry McDonald says.