Despite a habit of backing off from contentious positions under market or political pressure, the danger is that, eventually, a crisis could spiral beyond Trump’s control. Indices enjoyed their best day in almost a year after Donald Trump announced a ceasefire with Iran, marking yet another victory for the Taco (Trump always chickens out) traders. “I guess they say it was the biggest day in financial history,” he said after markets soared following last April’s tariff U-turn. Instead of plummeting on the day that Trump warned that “a whole civilisation will die tonight”, the S&P 500 actually advanced. One sees why investors err on the side of optimism, but the danger is that eventually, a crisis could spiral beyond Trump’s control.

Source: The Irish Times April 12, 2026 13:51 UTC