Talking Taco The pattern US investors hold on to during trade chaos

Trump Always Chickens Out - or Taco for short. Investors like narratives to explain the financial world, and they appear to have seized on this one: whenever Donald Trump faces a market backlash, he will back down.

- Jasper Jolly

The US president did not take kindly to the suggestion that he was being a "chicken" when asked by a reporter about the term gaining traction on Wall Street.

"Oh isn't that nice - 'I chicken out.' I've never heard that," Trump said on Wednesday in response to the question. He then launched into comments on how high the tariffs he imposed on China were, and how he had "helped" China by cutting them. "But don't ever say what you said," he added to the reporter. "That's a nasty question."

He later returned to the theme, insisting that people often accuse him of being too tough.