Wall Street at a crossroads as record highs face growing risks

The US stock market completed a roller-coaster first half of the year at record-high levels but a host of factors could knock equities off their perch over the rest of 2025.

The benchmark S&P 500 (.SPX) is up over 5 per cent on the year so far, rebounding from an April plunge after an economic scare stemming from President Donald Trump’s “Liberation Day” tariff plan. Here are some of the