US President Donald Trump has acquired a new nickname from Wall Street traders, who continue to question his stance on Iran and the possibility of opening the Strait of Hormuz. The new nickname suggests they do not really think Trump can open the crucial trade route, even as oil prices continue to soar.
Wall Street traders give Donald Trump a nickname
Wall Street traders have given President Donald Trump a new, unwanted moniker, which will not leave the 79-year-old too pleased. The nickname seems to question Trump’s ability to open the critical trade route, the Strait of Hormuz.
Traders have reportedly started calling Trump “NACHO.” This is an acronym for “Not A Chance Hormuz Opens,” according to Bloomberg columnist Javier Blas. Previously, Wall Street traders called Trump “TACO,” an acronym for “Trump Always Chickens Out,” which was a reference to the President’s shifting stance on the war.
Javier Blas wrote on his X account, “We thought we were getting a TACO ‘Trump Always Chickens Out.’ But so far, we are getting a NACHO. ‘Not A Chance Hormuz Opens’ (With appreciation to the trader who told me).”
Trump’s handling of the Iran conflict came under further scrutiny recently after the President canceled a planned diplomatic meeting over the weekend, despite his claims that the conflict would end very soon. Trump’s meeting was slated to take place with special envoy Steve Witkoff, the president’s son-in-law Jared Kushner, and Iranian Foreign Minister Abbas Araghchi.
“I just cancelled the trip of my representatives going to Islamabad, Pakistan, to meet with the Iranians. Too much time wasted on traveling, too much work! Besides which, there is tremendous infighting and confusion within their “leadership.” Nobody knows who is in charge, including them. Also, we have all the cards, they have none! If they want to talk, all they have to do is call!!! President DONALD J. TRUMP,” Trump wrote about the meeting on his Truth Social.
Originally reported by Sourav Chakraborty on Mandatory.
