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Wall Street plunges amid global selloff over Trump Greenland tariff threats
Wall Street's S&P 500 fell 2.1% after Trump threatened tariffs on eight European nations amid Greenland acquisition tensions, triggering global market sell-offs and safe-haven asset gains.
- On Tuesday, all three major Wall Street indexes closed well down, joining a broad global selloff hitting Europe and Asia amid President Donald Trump's tariff threats.
- President Donald Trump said he would impose a 10% import tax starting February 1 on goods from eight European countries, raising tariffs to 25% on June 1 until a Greenland purchase is agreed.
- Major technology and consumer names led declines, with Nvidia plunging 3.6% and Amazon falling 3.7%, while the S&P 500 lost 143.12 points and the Nasdaq Composite dropped 559.44 points.
- Investors moved into precious metals while U.S. Treasuries saw long-end selling, with gold up 3.7%, silver soaring 6.9%, and the 10-year Treasury yield rising to 4.29% from 4.23% Friday.
- European leaders denounced the tariff threat as undermining transatlantic ties and are weighing retaliatory tariffs and use of the European Union's anti-coercion instrument, while markets watch Thursday's Personal Consumption Expenditures price index before the Federal Reserve meets next week.
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Stocks stable after tariff-fuelled selloff but uncertainty boosts gold
Asian equities stabilised Wednesday after a rough start to the week fuelled by Donald Trump's Greenland-linked tariff threats, though uncertainty rattling through trading floors saw safe-haven precious metals hit fresh record highs.
Why Oklo Stock Sank Today
Key PointsTrump's Greenland tariff threats sparked the worst market sell-off in months.U.S. Treasury yields spiked as the dollar weakened amid the escalating geopolitical tensions.10 stocks we like better than Oklo › Shares of Oklo Inc (NYSE: OKLO) fell on Tuesday, finishing the day down 5.3%. The drop came as the S&P 500 and the Nasdaq Composite both had their worst day in months, sliding 2.1% and 2.4%, respectively. Oklo, which is developing s…
·Alexandria, United States
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Total News Sources125
Leaning Left25Leaning Right15Center46Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 29%
C 54%
R 17%
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