"I would say this is the same kind of hysteria that we heard on April 2nd. There was a panic. [That was the day of Trump's initial Liberation Day tariffs, which were reversed after a market panic]. Treasury secretary Bessent adds: What I am urging everyone here to do is sit back, take a deep breath, and let things play out."
"Global stock markets and the US dollar have tumbled while gold and silver prices hit record highs, as Donald Trump stepped up his rhetoric over Greenland, threatening fresh tariffs on countries opposed to the sale of the Danish territory to the US. In Asia, Japan's Nikkei fell by 1.1%. The main European stock markets are all down around 1.1%, with the UK's FTSE 100 index losing 1.1%, or 111 points, to 10,083."
Treasury Secretary Scott Bessent urged countries not to retaliate against proposed US tariffs tied to the Greenland sale, calling for calm and to let events play out. He compared the current reaction to prior panic over April tariff announcements and recalled that last year's China escalation produced 145% and 125% tariffs before stabilization. Global markets reacted sharply: major Asian and European indices fell around 1.1%, US futures signaled sizable drops, the dollar weakened, gold and silver hit record highs, and UK gilt yields rose, reflecting increased market uncertainty and safe-haven demand.
Read at www.theguardian.com
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