TLDR 

MARKET RECAP → The S&P 500 (VOO) bounced back slightly on Friday but still logged its worst week in months as escalating trade policies rattled investor confidence.

CITI BOOSTS CEO JANE FRASER’S PAY TO $34.5M → Citi raised Jane Fraser’s pay by a third as she cut jobs, streamlined operations, and launched a $20B buyback—investors seem to like efficiency. 💰

TRUMP’S TARIFFS RATTLE MARKETS, VOLATILITY HERE TO STAY → Global markets slid as Trump’s tariffs took effect, fueling trade war fears. Analysts warned of continued volatility as investors struggled to keep up. 📉

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TODAY’S TOP NEWS

Citi Boosts CEO Jane Fraser’s Pay to $34.5M

💰 Citi raised CEO Jane Fraser’s total compensation by a third to $34.5 million, making her the highest-paid female bank CEO. Most of her pay came in stock-linked awards, reflecting investor confidence in her leadership.

📉 Despite regulatory fines and a profitability target cut, Fraser streamlined Citi by shedding retail operations globally and cutting 20,000 jobs. The bank met revenue targets and posted record earnings in three of its five divisions.

📈 While Citi’s stock lagged peers in 2024, a $20 billion buyback plan helped shares jump 20% this year. Fraser’s pay now exceeds that of Morgan Stanley’s CEO and trails only Goldman Sachs’ David Solomon and JPMorgan’s Jamie Dimon.

TODAY’S TOP NEWS

Trump’s Tariffs Rattle Markets, Volatility Here to Stay

 📉 Global markets tumbled as Trump’s long-threatened tariffs on China, Mexico, and Canada took effect, sending U.S. stocks into a sharp sell-off. The Nasdaq slipped into correction territory, and European and Asian markets also struggled.

⚠️ Investors braced for continued volatility, with analysts warning that Trump’s unpredictable policy shifts could create a “risk on, risk off” trading environment. Concerns over trade wars, economic uncertainty, and geopolitical risks kept markets on edge.

🌍 Retaliation loomed as Canada, Mexico, and China threatened countermeasures against U.S. goods. Meanwhile, investors weighed policy shifts in Europe and signs of slowing U.S. growth, with traders increasingly overwhelmed by rapid news cycles.

KEEP READING

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Treasury Secretary Bessent says there’s no Trump ‘put,’ but their policies should boost market (CNBC)

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Trump’s first White House Crypto Summit has VIPs pushing for favorable laws (CNBC)

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