Six Charts That Show How Stock Markets Got Reshaped in 2025

Stock investors can’t claim that this year has lacked market drama.

It didn’t always look likely, but equities have managed strong returns in 2025, weathering shocks like DeepSeek of China’s challenge to US artificial intelligence and the tariff storm unleashed by the Trump administration in April.

Dips were bought at record pace and a fear of missing out on the rally dominated sentiment. In the background, a powerful wave of diversification swept through the market as investors responded to the cracks appearing in so-called US exceptionalism by buying up European, Asian and emerging-market stocks.

Here are six charts that capture ...