S&P 500 shines in 2025 but global markets do even better

The S&P 500 rose 18.6% in 2025, but several global markets posted even bigger gains as easing policy expectations, strong earnings, and AI-driven investment boosted equities worldwide. South Korea’s Kospi led major markets, while political shifts and tariff volatility shaped performance across regions, showing investors could find stronger returns abroad than in the US.