Chart in Focus: Did you miss out on the market bounce back in April?

The bravado of the Liberation Day tariff announcements, framed as a “declaration of economic independence,” sought to employ draconian measures to force a rapid rebalance of global trade, with 10% baseline tariffs and country-specific tariffs as high as 145%. Markets were caught off guard and likewise rapidly began to plummet. Investors who sold, fearing the implications of an abrupt end to globalization, would be dismayed when a 90-day moratorium announced a week later sent markets skyrocketing on hopes for a better trade outcome.

Following drawdowns, markets can often snap back and retrace losses quickly. While the catalysts vary over time, history has often made the case for staying invested. Since 2000, a formal market correction (i.e., exceeding -10%) has occurred roughly every other year on average, including in many years ending in significant positive territory. 2025 is no different, with investors who missed out on the April 9 bounce back lagging the S&P 500 by an astonishing -8.7% year to date as of writing.

We may not be out of the woods on final tariff policy, but remaining engaged with the market and building a diversified portfolio to withstand periods of volatility could be perennial tried and tested advice for investors.