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.

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.”

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

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.

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

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.

Conservative cable news channel Newsmax is getting a Trump bump on Wall Street. The Boca Raton, Florida, outlet's stock price surged after its initial public offering Monday. Shares offered at $10 closed at $233 a share Tuesday afternoon,

The S&P 500 index dropped 2 percent as investors weighed hotter-than-expected inflation data and braced for President Trump’s next round of tariffs.