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Wall Street plunges amid global selloff over Trump Greenland tariff threats
President Trump’s 10% tariff threat on eight NATO countries linked to Greenland deal sparks global market declines, including a 1.3% drop in the Dow Jones, analysts said.
- 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.
Pressure over Greenland grows as Trump, allies descend on Davos
President Trump will come face-to-face with European allies this week at the World Economic Forum in Davos, Switzerland, as tensions build on both sides of the Atlantic over Trump’s insistence on the U.S. acquiring Greenland. On Saturday, the president slapped 10 percent tariffs on Denmark and its European allies to pressure them over the future [...]
·Cleveland, United States
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Coverage Details
Total News Sources80
Leaning Left20Leaning Right9Center33Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 32%
C 53%
15%
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