"All as investors react to President Trump's threat to impose tariffs on eight European countries opposed to the proposed U.S. takeover of Greenland. According to the BBC, "Trump announced a 10% tariff on goods from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland would come into force on 1 February, but could later rise to 25% - and would last until a deal on Greenland was reached.""
"In addition, the uncertainty and chaos are also likely to push gold closer to $5,000 and silver closer to $100. At the moment, gold trades at $4,725. Silver is up to $95. And unfortunately, the latest round of chaos isn't likely to cool any time soon. We also have boiling tensions with Iran, Minneapolis, and now with Europe and Russia. And until some of the chaos fades, tension and uncertainty will continue."
Futures pointed to a sharp market open with S&P 500 futures down 1.4%, the SPY down 1.42%, the Dow down 1.25% and the Nasdaq down 1.73% as investors reacted to President Trump's threat to impose tariffs on eight European countries over Greenland. A 10% tariff was announced to start on February 1 and could rise to 25% until a Greenland deal was reached. A 200% tariff threat targeted French wine and champagne. European leaders signaled possible countermeasures, raising fears of a retaliatory trade war. Precious metals surged, with gold near $4,725 and silver near $95, and volatility rose amid geopolitical tensions.
Read at 24/7 Wall St.
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