The so-called "TACO Theory" was coined by Robert Armstrong, a Financial Times writer seeking to underline the US president's tendency to backtrack on policies when they start to roil the markets.

Elon Musk wasted no time dunking on the Financial Times after the newspaper backtracked on a bombshell report published last week that implied Tesla had a $1.4 billion hole in its books.

KELLY: OK, the term TACO is meant to capture a trade theory that goes like this ... President Trump walks it all back. Well, Financial Times columnist Robert Armstrong came up with TACO.