Q4 2025 Market Review

AIQ Asset Management • February 13, 2026
All’s well that ends well. While investors endured a difficult spring fling with a bear market following competitive concerns within the popular AI trade and the President’s “Liberation Day” tariff shocker, those concerns quickly faded driving one of the strongest rallies off a bottom (April 8) in history. Stocks powered through another AI scare in November to end the year just off their all-time highs. It was the third consecutive year of double-digit gains for the S&P 500 with those gains once again led by large cap growth stocks.
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