“Generally, tariffs are considered to be negative for economic well-being,” Davidson said. “So initially, stock markets around the world sank following the imposition of the Liberation Day tariffs. However, since then, the U.S. stock market has rebounded dramatically.”

The U.S. stock market just got a Texas-sized addition. The Texas Stock Exchange received approval from the United States Securities and Exchange Commission to launch a new stock exchange, with TXSE set to begin trading stocks by early 2026.