Stocks took a hit in after-hours trading after the commander-in-chief slapped a 10% baseline tariff on all exporters to the US as well steeper rates for nations he accuses of treating this country

The average annual payout jumped 31% to $244,700.

U.S. stocks swerved through another shaky day of trading, with uncertainty still high about just what President Donald Trump will announce about tariffs on his “Liberation Day.”

That is up 34% from last year’s bonus pool of $35.4 billion and the highest number since records began in 1987.

As Wall Street draws the curtain on a tumultuous quarter in which stocks logged a record high before tumbling into correction, investors are faced with a mountain of policy uncertainty that clouds the outlook for coming quarters.

On Wall Street, the S&P 500 rose 0.6% in another roller-coaster day, after being down as much as 1.7% during the morning. The reversal helped the index shave its loss for the first three months of the year to 4.6%, making it the worst quarter in two-and-a-half years.

The bonus pool for New York City's securities employees hit a record $47.5B in 2024, up 34% Y/Y, marking its first major increase since COVID-19 pandemic highs, New York State Comptroller Thomas P. DiNapoli said on Wednesday in the office's annual estimate.

There's a new Trump trade on Wall Street, and it's as volatile as the president's agenda.

Wall Street banker bonuses rose 31.5% to an average $244,700 last year as dealmaking rebounded, but the boom times may wane as economic uncertainty rises, New York State Comptroller Thomas DiNapoli said on Wednesday.