The U.S. equity market’s struggles in early Q2 2025, combined with renewed opportunities for investing in non-U.S. equity markets, may encourage asset allocators to lessen the focus on home bias and reassess broader geographic exposures. 

While headline tariff risk has been dominated by equity levels and Treasury yields, stress in fixed-income markets is also evident. Overall levels remain below previous crisis peaks, but the speed of this move is unusual — comparable only to the speed seen during the COVID-19 sell-off and global financial crisis.

Future index innovations emerge from past experience. Within the context of 55 years as a global index provider, we review major global-equity trends via a series of charts and offer deeper insight into the role of index-construction parameters.

Economists have cut growth forecasts and raised inflation expectations since the U.S. tariff announcement on April 2. For multi-asset-class investors, the key question is how shifting macroeconomic expectations could affect asset prices. 

In our series dedicated to bonds labeled green, social, sustainability and sustainability-linked, we break down the market by multiple bond and issuer characteristics to identify key trends in this rapidly growing and increasingly diverse market.

U.S. tariffs sent shockwaves through global markets. Our scenario analysis shows a bleak outlook for multi-asset class portfolios. Shifts in allocation strategies, however, have offered relative downside protection and new opportunities in turbulent markets.

The tariffs announced by the Trump administration on April 2 have increased market volatility, creating both risks and opportunities. Long-horizon investors may seek to exploit short-term views without straying too far from their long-horizon allocation.

Tariff announcements on April 2 sparked a sharp sell-off in equities, with developed markets leading the decline. Energy and metals fell most, amid economic slowdown fears. Geographic revenue exposure explains stock-price movements, beyond traditional factors.