Though everything appears to be going swimmingly for the U.S. economy and stock market, looks can be deceiving.

Wall Street's three major stock indexes have been on quite the roller coaster since 2025 began.

Shortly after President Donald Trump unveiled his tariff and trade policy following the close of trading on April 2, the broad-based S&P 500 ( ^GSPC 0.49% ) , growth-dependent Nasdaq Composite ( ^IXIC 0.72% ) , and iconic Dow Jones Industrial Average ( ^DJI 0.37% ) all endured a mini-crash. The S&P 500 and Dow entered correction territory , with the Nasdaq falling into its first bear market since 2022. The S&P 500 also endured its fifth-steepest two-day percentage drop in 75 years .

Then the script completely flipped on April 9, when Trump announced a 90-

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