Investment Banking

Wall Street banks notch up $34bn in trading revenue after tariff turmoil

US banks have capitalised on big market swings from Donald Trump’s trade war

Goldman Sachs was ahead of its rivals for equities trading revenue, pulling in the highest quarterly figure in Wall Street history
Goldman Sachs was ahead of its rivals for equities trading revenue, pulling in the highest quarterly figure in Wall Street history Photo: Bloomberg via Getty Images

Wall Street banks pulled in almost $34bn in trading revenue during the second quarter as they capitalised on wild market swings triggered by US tariffs.

Traders at the five biggest US banks — Goldman Sachs, JPMorgan, Morgan Stanley, Bank of America and Citigroup — notched a combined $33.8bn in revenue between April and June, according to a Financial News analysis of company results.

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Big Banks Are Spinning Market Chaos Into GoldExternal link

Big Banks Are Spinning Market Chaos Into Gold