Quarter of Shocks : First & the Last ?

The last three months have been nothing short of a shocker for most. Starting with tariffs to the war between Israel and Iran, alongside the conflict between India and Pakistan. In addition to de-escalation between the USA and China after a high-risk escalation, Elon Musk's main support for the new President is being countered by him on social media. 

All these events, in addition to others, have resulted in a chaotic geopolitical scenario that is not limited to non-economic consequences.

The global stock market fully recovered and some more from the large fall at the start of the quarter. The opposite was true for volatility, as it now moves to a past low. The only asset classes that still continue with the trend at the start of the quarter are currency, especially the dollar index, falling by 7%. This would surely reduce the impact of tariffs on this quarter's earnings.

Whether this quarter's events and impact were managed after the first wave of shock is yet to be answered. The focus should be on whether there are more quarters like this ahead, or was this last? The answer to this would define the returns for the next few years, as one makes it a trading environment and the other an investing one.