April was effectively a story of two halves. Initially, global investors across all asset classes faced intense volatility in response to the Trump Administration’s tariff announcements. The markets were rocked by erratic tariff headlines, reframing in long stablished global trade policies, and a constant stream of tweets from U.S. President Trump. However, a subsequent Executive Order instituting a temporary 90-day pause in tariff implementation led to a strong cross sector market recovery in the latter half of the month.
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