Key Takeaways The S&P 500 is off to its worst start for a presidential term since 2009, when Barack Obama entered the White House in the midst of the global financial crisis.Traditionally defensive sectors have outperformed since Trump's inauguration amid growing concern that tariffs could usher in a period of stagflation.

After a turbulent month for U.S. stocks, many investors are wondering: What’s happening with the market, and where is it heading next?

Tariffs and sweeping DOGE cuts have fueled intense volatility as investors' outlook for markets and the economy in 2025 dims.