JPMorgan Chase & Co.’s stock traders took in a record haul in the first quarter, boosted by chaotic market moves set off by President Donald Trump’s policy announcements after he took office in January.

The biggest US bank boosted equities markets revenue 48% to $3.81 billion, trouncing analysts’ expectations as well as the firm’s previous stock-trading record set four years ago. Still, Chief Executive Officer Jamie Dimon struck a cautious tone about prospects for the US economy in a statement Friday accompanying the results.