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Condé Nast

US Politics

US Politics

The markets have been on a wild ride since mid-February, with the S&P 500 sliding 17% in a matter of weeks

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Term " TACO " was coined by Financial Times columnist Robert Armstrong to describe a theory of how brokers have learned to buy the dips caused by Trump announcing huge tariffs.

The markets have been on a wild ride since mid-February , with the S&P 500 sliding 17% in a matter of weeks .

Then the president decreed a partial pause, sending stocks to their third -biggest gain since WWII .

As a broker, Tuchman traded his way through the crash of 1987 , the dot-com bubble in 2000 , the collapse of the predatory housing mortgage market in 2008 , and COVID . “Markets can handle anything. They’ve handled world wars, pandemics, terrorist attacks, some more painful than others, and gotten through it,” he says.

“What’s different about this one is that it was a self-inflicted crash. Yes, we've been able to get back all the losses from Liberation Day . But the market did not regain its confidence. There's still a lot of anxiety.