New Delhi, May 30 -- A press briefing at the White House took an unexpectedly humorous turn on Wednesday after CNBC correspondent Megan Cassella confronted President Donald Trump with a cheeky new Wall Street acronym: TACO, short for "Trump Always Chickens Out." The phrase, a nod to the president's frequent reversals on tariff threats, has been making waves online and among traders.

Cassella asked, "Mr. President, Wall Street analysts have coined a new term called the 'Taco trade.' They're saying 'Trump Always Chickens Out' on your tariff threats. And that's why markets are higher this week. What's your response to that?"

The question appeared to annoy the president, who quickly dismissed the suggestion that he had backed down.

"I chic...