“This year has been a time of profound change on the global financial map” say market analysts. Between the emergence of companies related to artificial intelligence, the import tariffs announced by Donald Trump and the general elections in Argentina, There were investors who saw their portfolio achieve triple-digit dollar growth and others who ended 2025 in negative terms.
“The year was very irregular. There was one black swan at the beginning of the year, when Trump imposed tariffs in most countries, in a trade war that triggered the United States and which would have caused a recession if it had remained at those levels. “The entire stock market, starting with growth and technology companies, suffered enormously until April 6,” summarizes Gustavo Neffa, director of Research for Traders.
For the analyst, however, there was a little more calm at this point as it became clear how each country would negotiate tariffs with the United States. In the following months several agreements were reached and “The market has grabbed Trump’s hand.” As the months went by, the risks decreased and He boom of artificial intelligence caused a “rally unusual”.
With this background scenario the S&P 500 stock index, which brings together the 500 most important companies listed in the United States, recorded an increase of 18.17% in dollar terms. In other words, if an investor had invested $1,000 in this cedar at the end of last year, they would have $1,181.70 in their account today.
Companies related to artificial intelligence were particularly popular. One of the “star” assets of 2025 was Micron Technology’s cedar saw a 240% dollar increase over the past 12 months. This means that if the same investor invested $1,000 in this security, he would currently have $3,400 in his portfolio.
Something similar happened with Intelwhich, after what analysts described as a “challenging” 2024, saw its revenge in 2025 and increased by 80%. Anyone who invested $1,000 at the end of last year would have $1,800 today. While the massive integration of its Gemini model across the ecosystem of Google and accelerating growth in the cloud space drove this stock higher 65.76%. Continuing with the exercise, the same investor would have a portfolio of $1,657.
“Following Trump’s announcement of reciprocal and across-the-board tariffs, major global indexes fell more than 12% in just four days, stoking fears of a global recession. Despite the initial panic, Wall Street showed amazing resilience. After a pause in policy implementation and the strength of corporate balance sheets, the S&P 500 not only recovered but continued to recover what it had lost through May set new all-time highs, driven by relentless spending on AI infrastructure,” explained Damián Vlassich, Team leader of Investing Online (IOL) investment strategies.
However, in times of uncertainty Gold becomes king. This year was no exception and amid the global turmoil due to the tariff war, the precious metal was rose 72.78% in 12 months and is currently trading at $4,502 per ounce. It was one of the most significant increases in recent financial history. Anyone who had invested $1,000 in this asset a year ago would have $1,727.80 today.
“There was one rally exceptional in all precious metals, including industrial metals. Copper saw a strong rise of 37%, as did iron ore and aluminum, and was complemented by the extraordinary rise in silver, which reached historic highs. In fact, gold had the second best historical performance after 1979 Silver has had its best year in history, up 125% so far. For oil, the year was exactly the opposite, with a decline of 16.9%. because there is an oversupply worldwide,” Neffa added.
Another market that analysts examined closely was Brazil, as the neighboring country’s stock index (EWZ) recorded a performance of 37% in dollar terms. In this case, it benefited from demand for emerging markets and the flow of capital seeking “alternatives to U.S. concentration,” Vlassich said. An investor who risked $1,000 on this security today has a portfolio worth $1,370.
At the local level, Argentina experienced its own rollercoaster ride, partially disconnected from the global trend. After a 2024 year that generated triple-digit returns in dollar terms, the Merval began a downward correction since January. until the parliamentary elections in October were a new catalyst which allowed him to regain some of the lost ground.
However, many stocks closed in the red, with losses of up to 26% for investors, as was the case with Edenor. But there were some exceptions. This investor with his $1,000 would have had $1,394 if he had bought the stock of Corporación América (+39.4%), about $1,215 if he had invested in Central Puerto (+21.5%) and $1,175 if he had invested in Mercado Libre (+17.5%).
“As challenging as 2025 was, National debt ended the year on a positive note. After reaching a country risk level of around 1,500 points in September, at the time of the greatest uncertainty of the year, following the ruling party’s victory in October, the indicator prepared by JP Morgan closes 2025 below 600 points. This reflects the commitment to the sustainability of reforms and macroeconomic stability for 2026.Vlassich remarked. The Global 2041 bond increased by 14.2% (US$1,142) and the Global 2035 bond increased by 14.9% (US$1,149).
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