Trump TACO trade roars as stocks recover half of yesterday’s loss after messages over ‘piece of ice’ from Davos

The U.S. stock market bounced back from its worst day since October on Wednesday after President Donald Trump said he reached the framework for a deal about Greenland, an island he’s long coveted, and won’t impose tariffs he had threatened on several European countries.

The S&P 500 rallied 1.2% after Trump said the deal, “if consummated, will be a great one for the United States of America” and its allies in the North Atlantic region. The announcement triggered an immediate move higher in the stock market...