Finance
Wall Street Fears Job Cuts as Dealmaking Fizzles in Trade War
At the start of the year, investment bankers around the world were hopeful that Trump would fan the flames of the nascent recovery in M&A that got underway in 2024.
Photographer: Michael Nagle/BloombergUp and down Wall Street, executives are starting to come to terms with a new reality: Donald Trump isn’t delivering the long-awaited rebound in M&A they hoped he would.
Inside JPMorgan Chase & Co., Goldman Sachs Group Inc. and Bank of America Corp., executives are considering revising down internal revenue projections for their advisory businesses for this year. Such moves across the industry could portend job cuts in the second half if the environment doesn’t improve.