Traders Say ‘What Tariffs? Who Cares?’ in a Rush to Buy Risk (1)

Traders are snapping up risky assets of all stripes in the hope that falling US interest rates will add rocket fuel to an economy that’s so far been able to withstand the effects of Donald Trump’s trade war.

Wall Street is set to extend record highs when trading begins on Wednesday, with shares of small-cap, emerging-market and semiconductor companies leading gains. Across global markets, everything from volatility indexes to speculative European bank bonds to crypto is underscoring a sense of confidence about corporate profits and global economic growth.

Any worries about President Trump’s tariffs and whether America’s confusing economic ...