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.

President Donald Trump’s fast-approaching “Liberation Day” sent stock markets swinging sharply worldwide on Monday. On Wall Street, the S&P 500 rose 0.6% in another roller-coaster day, after being down as much as 1.

Wall Street bonuses surged 31% last year on rising markets and a rebound in dealmaking activity, delivering a boon for the industry’s hometown economy. Some are already wondering how long it is going to last.

Average bonuses paid to New York City executives were up 31.5% over last year, according to a report from Comptroller Thomas P. DiNapoli.

Another wipeout slammed Wall Street as worries built about a potentially toxic mix of worsening inflation and a U.S. economy slowing because of households afraid to spend due to the global trade war.

Wall Street bankers saw their bonuses rise more than 30% last year, according to a Wednesday statement from New York State Comptroller Thomas DiNapoli, contributing to a record high bonus pool lifted by a strong performance from Wall Street in 2024.

That's how much the average Wall Street bonus was in 2024. The figure marks a 31% increase from $186,100 the prior year, according to a report from the New York state comptroller’s office. Wall Street bonuses have an outsized impact on New York City's economy and workers.

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

Wall Street bonuses surged in 2024, averaging a record-breaking $244,700, according to new state estimates. That’s 31.5% higher than in 2023, according to state Comptroller Thomas DiNapoli. It’s part of an estimated pool of $47.

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.