How Wall Street got Donald Trump wrong

'They're pretty quiet': Wall Street dealmakers thought Trump was the answer. Now, they're not so sure.

Wall Street had high hopes for President Donald Trump's second term in office. Now, some are not so sure.Brendan SMIALOWSKI / AFP via Getty ImagesWall Street earnings have shown early signs of how the Trump presidency is affecting banks.Firms like Goldman Sachs and Bank of America said the locked-up M&A market hurt IB earnings.Now, some corporate dealmakers who backed Trump are biting their tongues, insiders say.Many soothsayers throughout Wall …

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How Wall Street got Donald Trump wrong

Titans of finance and business are beginning to realise they misread the president’s second-term priorities

Millions of people in the United States are experiencing the moment that Chico Buarque de Holanda captured in his 1967 song “Roda Vida”: “We want to have an active voice/In our destiny to rule/But lo and behold, the life wheel arrives/And carries destiny there.” On a daily basis, those who follow the news are overwhelmed by the chaos produced by the current administration, while their opponents try to understand the long-term implications of the…

In mid-February, some of Wall Street's most powerful investors and business tits—controlling hundreds of billions in personal wealth and trillions in assets—lined up as teenagers before a rock concert. Read more (04/15/2025)

In mid-February, some of Wall Street’s most powerful investors and entrepreneurs — who accumulated billions of dollars in personal assets and managed...