Wall Street, Goldman Sachs
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Axios on MSNHow tariff-fueled market downturns made Wall Street richVolatility spiked in the second quarter of 2025, amid record policy uncertainty thanks to tariffs. Wall Street used this to its advantage, with Goldman Sachs raking in the best trading revenue in history.
There was a broad surge in trading revenue across Wall Street in the second quarter, fueled by market volatility set off by President Trump’s tariffs.
Citigroup, Goldman Sachs and other major banks post massive trading gains as market volatility defines Trump’s economic landscape.
Both BofA and Morgan Stanley forecast the central bank to reduce policy rates twice each in August and November this year, while Goldman Sachs expects sequential cuts from November through March 2026 to a 3% level. The UK's benchmark bank rate currently stands at 4.25%.
Profits at Goldman Sachs surged from boosts in trading and dealmaking, the latest example of how big Wall Street banks were able to recover from the market chaos triggered by President Trump's tariffs.
Trading desks across Wall Street have benefited as President Donald Trump’s tariff policies have roiled markets for bonds, currencies, commodities and stocks.