In New York, as the stock market fluctuates, investors are uncertain due to a mix of policy changes affecting the outlook for the upcoming quarters. The S&P 500 Index concluded the quarter with a 4.6% decrease, marking its weakest performance since the first quarter of 2022. The optimism at the beginning of the year for economic growth policies set by the Trump administration has waned due to tariff-related news. This, coupled with declining consumer confidence and worries about potential inflation resulting from President Donald Trump's trade policies, has sparked concerns about a recession or stagflation. Investors are analyzing the impact on the stock market, particularly on high-performing stocks, and are examining historical trends to predict a possible shift in sentiment.

Despite market volatility, the Cboe Volatility Index has not surpassed 30, typically an indicator of heightened fear among investors. This lack of extreme fear levels may suggest that the market correction may not have reached its lowest point yet. The decline has hit prominent companies like Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms, and Tesla hard, with their shares collectively dropping around 16% this quarter. Although these companies significantly influence the S&P 500, their combined weight in the index has slightly decreased to 30.5% from 33.5% at the quarter's start.