Morgan Stanley said its wealthy clients “bought the dip” after US President Donald Trump’s tariffs caused huge swings in markets.

 

In its financial report released on Wednesday, the US-based bank highlighted that last April’s sharp market volatility reinforced its trading business.

 

Addressing The Financial Times, Sharon Yeshaya, Executive Vice President and CFO of Morgan Stanley, said very active trading was witnessed on April 2 when Trump’s tariffs were announced.

 

Yeshaya explained that the “buy-the-dip” strategy was dominant among retail deals throughout the second quarter.

 

Moreover, the bank’s wealth management attracted $59 billion of fresh net assets during the second quarter of this year.

 

This in turn brought the total value of assets in its wealth management and investment units to about $8.2 trillion.

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