Interactive Brokers' Thomas Peterffy explains why he's wary of the rally in stocks

Thomas Peterffy, founder of Interactive Brokers.
Andrew Harrer | Bloomberg | Getty Images

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Interactive Brokers' chairman Thomas Peterffy said Wednesday that he understands why stocks have been rising despite widespread unemployment and business closures, but he doesn't trust the rally. 

On CNBC's "Squawk on the Street," Peterffy called the surge in stocks over the last two months "competely counter-intuitive" and said he was worried about a sharp pullback.