The first half of 2025 was a tumultuous time for U.S. securities, to put it mildly. The transition to the second Trump administration brought rapidly shifting domestic and international policies and ever-changing tariffs to an economy that some analysts feel is on the brink of recession.
Still, after a precipitous drop in early April, the S&P 500 recovered nicely in the second quarter. With gains of more than 6% for the first half of the year, the benchmark index is starting the third quarter at fresh record highs.
