Wall Street is finally waking up to the reality in Washington. The S&P 500 Index fell 1.8 percent on Wednesday in the most notable reversal to the so-called Trump rally since last year’s U.S. election. Stockholders nevertheless remain too optimistic about any policy uplift. The promise of relaxed regulation, corporate tax cuts and investment in America’s crumbling roads and bridges under President Donald Trump and a Republican Congress has excited investors for most of the past six months. Clinging to that cheery outlook required overlooking a plethora of warning signals, not least the daily dysfunction in the nation’s capital and