** Shares of investment bank Jefferies JEF.N fall ~6% to $56.59 premarket
** Co's Q1 profit missed Wall Street estimates after market on Wednesday as bond trading weakened and deals were stalled due to uncertainty sparked by shifting U.S. trade policy and geopolitical turmoil
** JEF's revenue from equity underwriting declined 39% in the reported quarter
** While some deals have moved forward, geopolitical tensions and rapidly evolving U.S. policy under President Donald Trump's administration have dampened expectations for a broader rebound
** Last year's "momentum has been slowed by the uncertainty that has arisen as a result of the policy statements and actions of the government and geopolitical events," Jefferies President Brian Friedman said in an interview
** The results offer investors an early glimpse at how Wall Street's investment banking units may fare in the first half of 2025
** JEF reported a profit of 57 cents per share in Q1, missing estimates of 94 cents according to data compiled by LSEG
** Larger rivals Morgan Stanley MS.N, Goldman Sachs GS.N and JPMorgan Chase JPM.N are set to report earnings next month
** Stock down ~23% YTD, up to last close
(Reporting by Manya Saini in Bengaluru)
((Manya.Saini@thomsonreuters.com))
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