The Globe and Mail reports in its Tuesday edition that the S&P 500 and the Nasdaq composite on Monday concluded their worst quarterly performances since 2022, as uncertainty around the Trump administration's economic agenda roiled U.S. equity markets in the first quarter of 2025. A Reuters dispatch to The Globe says the two benchmarks also suffered heavily in March, recording their biggest monthly percentage drops since December, 2022, as President Donald Trump rolled out a swathe of new tariffs which raised fears of a global trade war that would hurt economic growth and spur inflation. For the quarter, the S&P 500 slumped 4.6 per cent, while the Nasdaq plummeted 10.5 per cent. The Dow was not immune to the unease, slipping 1.3 per cent in the opening three months. "Investors ... in this first quarter, threw their hands in the air, as you really cannot trade around this," said Adam Turnquist at LPL Financial. The Magnificent Seven technology names weighed heavily on U.S. equity markets as investors sold off growth names. However, the S&P/TSX Composite Index ended the quarter almost where it started, gaining almost 200 points over the three-month period, thanks to its heavy weighting in commodities.