Wall Street Profit Parade at Risk After Trump’s Populist Pivot

Donald Trump’s return to the White House unleashed a market rally, dealmaking went into overdrive, and bankers embraced all things Trump to rake in the big money.

The new year is offering Wall Street enough reason to worry that the party could be cut short.

The top US banks are trotting out results this week that back up the big run-up in their shares during the past year. But investors are now pivoting to the potential threats ahead, as they worry a populist turn by the president could erode the gains from the aggressive deregulation push the administration has ...