"Futures tied to the Dow Jones industrial average sank 401 points, or 0.81%. S&P 500 futures were down 0.91%, and Nasdaq futures sank 1.13%. Markets in the U.S. were closed in observance of the Martin Luther King Jr. Day holiday. Earlier, the dollar dropped as the safe haven status of U.S. assets was in doubt, while stocks in Europe and Asia largely retreated."
"On Saturday, Trump said Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland will be hit with a 10% tariff starting on Feb. 1 that will rise to 25% on June 1, until a "Deal is Reached for the Complete and Total purchase of Greenland." The announcement came after those countries sent troops to Greenland last week, ostensibly for training purposes, at the request of Denmark."
"Michael Brown, senior research strategist at Pepperstone, described the gambit as "escalate to de-escalate" and pointed out that the timing of his tariff announcement ahead of his appearance at the Davos World Economic Forum this week is likely not a coincidence. "I'll leave others to question the merits of that approach, and potential longer-run geopolitical fallout from it, but for markets such a scenario likely means some near-term choppiness as headline noise becomes deafening, before a relief rally in due course when another 'T"
U.S. stock futures fell late Monday after global equities sold off following President Donald Trump's announcement of tariffs on European NATO allies tied to demands to buy Greenland. Dow futures dropped 401 points while S&P 500 and Nasdaq futures fell near 1%. The dollar weakened and European and Asian stocks retreated. Trump said targeted countries would face 10% tariffs from Feb. 1 rising to 25% on June 1 until a deal is reached for Greenland. The move followed deployment of troops to Greenland and a message linking the takeover to a failed Nobel bid. Analysts warned of short-term market choppiness but expected a later relief rally.
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