Holly Peterson, a journalist based in New York City, writes the Earn Your Luck column for WSJ. Magazine and contributes lifestyle reporting and topical essays to The Wall Street Journal.

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.

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.

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 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.

Stocks took a hit in after-hours trading after the commander-in-chief slapped a 10% baseline tariff on all exporters to the US as well steeper rates for nations he accuses of treating this country

Dow Jones plunges at market open after overnight sell-off panics Wall Street - President Trump says he will impose blanket tariffs on all countries, hitting China and Europe hardest

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.