Wall Street Traders Troll Trump With a New Nickname [View all]
The president’s handling of the Iran war has earned him a humiliating new nickname among Wall Street traders who are questioning his ability to reopen a critical global oil route.
Traders have adopted the term “NACHO,” an acronym for “Not A Chance Hormuz Opens,” according to Bloomberg columnist Javier Blas, who reported Wednesday that a trader disclosed the nickname. It’s a reference to the Strait of Hormuz, a vital waterway through which about a fifth of global oil supplies normally flow.
The chokepoint was shuttered by Iran in response to U.S.-Israeli strikes on Feb. 28, sending oil prices soaring. With a fragile ceasefire in place, the U.S. and Iran remain in a standoff over the waterway, which is central to global energy markets.
The nickname follows an earlier moniker coined by traders, “TACO,” short for “Trump Always Chickens Out,” which he earned for his shifting stance on trade policy.
https://www.thedailybeast.com/wall-street-traders-troll-trump-with-a-new-nickname/
Nacho Nacho man!
= new reply since forum marked as read