Trump’s Tariff Backpedal Rewards Faithful TACO Dip Buyers

Wall Street woke up wondering just what it would take to get President Donald Trump’s attention as he careened toward a debilitating trade war with Europe.

In the end, it seems, a 2.1% rout did the trick.

It’s hardly the stuff of panic and far smaller than what some thought it would take to drive Trump into a retreat. And yet not even 24 hours after Tuesday’s selloff, Trump announced he’s backing off from imposing 10% tariffs on eight European allies, citing a “framework” agreement with NATO on Greenland’s future.

The reaction on Wall Street was swift. Stocks jumped ...