Financial markets remained chaotic and volatile in the June quarter of 2025, dominated by a sharp global market correction after the U.S. announced sweeping tariffs in early April – oddly termed by President Trump ‘Liberation Day’. These trade policy pronouncements escalated U.S. tensions with China and the European Union.

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The early months of 2025 have been chaotic for investment markets due to the flurry of policy pronouncements (and counter-pronouncements) from the United States’ new administration and the sense that the world order may become less comfortable.