"Stocks are falling on Wall Street after U.S. 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 sank 1.3 per cent in early trading Tuesday. The Dow Jones Industrial Average dropped 642 points, or 1.3 per cent. The Nasdaq composite slumped 1.5 per cent."
"Trump said Saturday that he would charge a 10 per cent import tax starting in February on goods from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland. European markets also fell and Treasury yields moved higher in the bond market. The annual combined imports from European Union nations are greater than those from the top two biggest individual importers into the U.S., Mexico and China."
"Silver and gold both rose to records again as investors sought safety amid heightened geopolitical tensions. Gold was up three per cent at $4,733 US an ounce while silver jumped more than seven per cent to $95.30 US. Trump linked his aggressive stance on Greenland to last year's decision not to award him the Nobel Peace Prize, telling Norway's prime minister that he no longer felt "an obligation to think purely of Peace," in a text message released Monday."
U.S. President Donald Trump's threat to impose new tariffs on eight NATO members tied to his push for American control of Greenland caused major market declines. The S&P 500 fell 1.3 per cent, the Dow lost 642 points (1.3 per cent) and the Nasdaq slipped 1.5 per cent. Trump announced a 10 per cent import tax starting in February on goods from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland. European markets dropped more than one per cent and Treasury yields rose. Gold and silver surged to record levels as investors sought safe havens. European leaders expressed outrage and considered retaliatory measures, including tariffs and use of the EU anti-coercion instrument. The annual combined imports from EU nations exceed imports from the two largest individual U.S. trading partners, Mexico and China.
Read at www.cbc.ca
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