Wells Fargo reports higher Q1 profit; shares fall as tariff rout deepens

Wells Fargo's WFC.N reports a rise in Q1 profit, helped by strength in its wealth management business

Shares of the major U.S. lender, however, fall 2.9% to 61.26, amid another bout of tariffs-induced selloff

Investment advisory fees and brokerage commissions rise 7%

Co's net income rose 5.8% to $4.89 billion

Net interest income fell 6% in Q1

Co reiterates 2025 NII growth forecast of 1% to 3%

WFC shares are down 10.2% YTD, compared to a 10.4% fall in the S&P 500 .SPX; shares rose 42.7% in 2024