Major U.S. banks, including JPMorgan Chase, Morgan Stanley, and Wells Fargo, reported strong profits for the first quarter of 2025, driven by increased stock trading. Wells Fargo's net income rose 6% year-over-year to $4.89 billion, with earnings per share (EPS) of $1.39, exceeding expectations. However, the bank's revenue fell 3% to $20.15 billion, missing estimates. Executives across the banking sector expressed concerns about potential economic turbulence stemming from President Trump's sweeping tariffs, which could hinder growth. Despite the positive earnings reports, bank leaders warned that these tariffs might lead to increased risks and uncertainty for the economy, reflecting broader apprehensions within the industry regarding their impact on businesses and consumers.