"Stocks slumped in morning trading on Wall Street Tuesday after President Donald Trump threatened to hit eight NATO members with new tariffs as tensions escalate over his attempts to assert American control over Greenland. The S&P 500 fell 1.2%, pulling back further from the record it set early last week. It was the first time U.S. markets could react to the escalation from Trump, as they were closed on Monday for Martin Luther King Jr. Day."
"The losses were widespread and led by technology stocks, many of which already have more influence over the direction of the market because of outsized values. Retailers, banks and industrial companies also fell sharply. Nvidia, one of the most valuable companies in the world, plunged 3%. Amazon fell 2%, JPMorgan Chase fell 0.6%, and Caterpillar lost 1%. The energy sector eked out gains as the price of U.S. crude oil rose 1.4% to $60.19 per barrel."
U.S. equities dropped in morning trading as President Trump's threat of new tariffs against eight NATO members amid Greenland tensions spurred selling. The S&P 500 declined 1.2%, retreating from a recent record, after markets reopened following the Martin Luther King Jr. holiday. The Dow lost 536 points (about 1.1%) and the Nasdaq fell 1.5%. Losses were broad and driven by technology names; retailers, banks and industrials also weakened. Nvidia slid 3%, Amazon 2%, JPMorgan Chase 0.6% and Caterpillar 1%. Energy outperformed as U.S. crude rose 1.4% to $60.19 per barrel. European and Asian markets also fell.
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