["Bulletin of Economic Research, EarlyView. ", "\nABSTRACT\nThis study investigates the volatility dynamics of the G7 stock market indices across three distinct periods: the pre‐COVID‐19 pandemic period, the post‐COVID‐19 pandemic period, and the entire period, using daily data from January 4, 2017 to March 28, 2024. The study employs both the causality in variance test and the wavelet coherence method. The findings obtained through the causality in variance test highlight the presence of bidirectional volatility interactions among G7 stock markets before the pandemic. The findings also indicate that the pandemic disrupted these patterns, leading to unidirectional volatility spillovers from the DJIA and SPX to other stock markets. The results of the wavelet coherence analysis indicate that the DJIA and SPX exert a significant and robust positive influence on the stock markets of the remaining G7 countries during the period 2020–2022. These results reveal the central role of US stock markets in the global financial system and underscore the pronounced sensitivity of G7 markets to US‐driven volatility.\n"]