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Wall Street plunges amid global selloff over Trump Greenland tariff threats
President Trump’s threat of 10% tariffs on eight NATO/EU countries over Greenland sparked Wall Street’s worst day since October, with the S&P 500 down 2.1%, 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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Fight Over Greenland, Tariff Threats Escalate as Trump Departs for World Economic Forum
The fight over Greenland is heating up — on the ground, at the negotiating table, and in global markets — after new troop movements and fresh tariff threats from the Trump administration.
·Pennsylvania, United States
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The U.S. futures remain weak after the sale. Trump's tariff threats in the Greenland dispute squeeze dollars and trust, while Europe is facing closed countermeasures.
·Düsseldorf, Germany
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iosconews.com+8 Reposted by 8 other sources
Stocks mixed after tariff-fuelled selloff as uncertainty boosts gold
Equities were mixed Wednesday following a rough start to the week fuelled by Donald Trump's Greenland-linked tariff threats, while the uncertainty rattling through trading floors saw safe-haven precious metals hit fresh record highs.
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Total News Sources157
Leaning Left36Leaning Right17Center54Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 34%
C 50%
R 16%
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