Truist Q1 profit falls on weakness in investment banking and trading business

Shifting expectations of global tariffs have triggered market turbulence and sharp declines, prompting CEOs to adopt a cautious stance and delaying deals and IPOs, hurting Truist's investment banking and trading income. Its quarterly investment banking and trading income fell 15.5% to $273 million versus a year ago. Truist reported an adjusted profit of 87 cents per share in the reported quarter, compared with 91 cents per share in the same quarter last year.