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Tuesday, February 3, 2026

A Tale of Two Quarters: Wall Street Weathers Tariff Whiplash

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The stock market transitioned from a bust and contraction to a boom and expansion.

A Tale of Two Quarters: Wall Street Weathers Tariff Whiplash

Stock market numbers are displayed on the floor of the New York Stock Exchange during morning trading in New York, on June 23, 2025. Michael M. Santiago/Getty Images

Andrew Moran

|Updated:

It was a tale of two quarters on Wall Street and the broader economy, transitioning from a bust and contraction to a boom and expansion.

U.S. stocks opened the June 30 trading session higher, capping off a raucous second-quarter performance, driven by a solid May and June rally.

Andrew Moran

Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of “The War on Cash.”

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