Wall Street Sees Buying Opportunity in Trump-Stoked Chaos

The US is threatening an economic war, at minimum, to gain control of Greenland. Japan’s political uncertainty has roiled global bond markets. And the Federal Reserve’s independence remains under threat from the Trump administration.

That’s not exactly a setup that screams buy risk assets, especially with bulls handily outnumbering bears and US stocks trading at lofty valuations. Equities sank the most since October Tuesday, but for all the turmoil rattling markets, the foundation for more gains looks solid, Wall Street strategists say.

Their reasoning generally rests on the idea that risk assets have long looked past prior bouts of ...