
Hype, panic and portfolio drift: back-to-school lessons for investors
Investors may be feeling seasick right about now. The boom of the Magnificent Seven tech stocks led to stock market highs in the early part of 2025. Then, U.S. President Donald Trump’s tariff plans led them to tumble, with the S&P 500 hitting a low of 4,900 in early April, down almost 20 per cent within a month. Since then, the President has backed off his most extreme tariff threats, the artificial intelligence frenzy has continued, and the S&P 500 closed at another high of just over 6,500 on Aug. 28. Is that the end of the storm? Not quite. As we head into the fall, everyone is wondering what the last quarter of 2025 may hold in store.