Traders Reveling in Rally Wonder Just How Far It Can Go (1)

The reaction across Wall Street was swift and euphoric. Stocks added $3 trillion in a matter of minutes after President Donald Trump paused implementation on some of his harshest tariffs.

Not included, though, was China, America’s third-largest trading partner that sent more than $500 billion worth of goods last year. Trump also left on a 10% levy against the rest of the world. There were no changes to the existing tariffs on Canada and Mexico.

And that was cause for concern on some trading floors.

“It’s hard to have a fundamental view,” said Laura Lau, senior vice-president and ...