It was a tale of two markets in April. U.S. market turmoil continued in the first half, as markets were whipsawed by tariff-related trade concerns. Notably, the latter half of the month was characterized by a series of market rallies, driven by easing geopolitical tensions amid mixed corporate earnings results. Despite a slight gain on the final trading day of the month, the S&P 500® declined by 1% in April, marking its third consecutive month of losses.
Mid and small caps, given their more domestic focus, fared worse than their large-cap peers, with the S&P MidCap 400® and S&P SmallCap 600® falling by 2% and 4%, respectively.
Performance among sectors was mixed, but a rotation was evident compared to Q1, with Information Technology in the lead and Energy as the laggard.dashboard-us-2025-04
