What Trump’s Greenland ‘TACO’ Means for Markets

Is the lesson of the Greenland selloff that investors need to pay more attention to President Trump, because his social-media pronouncements can hit markets; or less attention, because, as the TACO acronym has it, he always chickens out?

This week was different to the market plunge in April that led him to pull back on his supposedly “reciprocal” tariffs. That pullback was transparently in response to the market selloff, a feedback loop that shouldn’t reassure investors much: A painful drop in prices is still needed to stop him doing dumb stuff.