A trader works on the floor of the New York Stock Exchange, on Nov. 21.
Photographer: Michael Nagle/Bloomberg
‘You Had to Be Brave’: Wall Street Remembers a Wild 2025
The stock market was rattled by AI bubble fears, trade war and actual war, only to rally back, paying off to anyone who was willing to risk buying the dips. “You had to be brave.”
Jed Ellerbroek barely slept.
It was the evening of Wednesday, April 2, and President Donald Trump had just appeared in the White House Rose Garden, brandishing a large placard with the punitive tariff rates he was slapping on countries around the world. On Wall Street, it quickly sunk in that Trump was serious about shattering a global trading system that he said was wired against the US.