Wall Street closed sharply lower on Tuesday as global markets fell after U.S. President Donald Trump’s new tariff threats against Europe unsettled investors and revived fears of renewed volatility.
A broad risk-off mood swept through financial markets after Trump said Washington would impose fresh 10% import tariffs on a group of European countries from 1 February, rising to 25% on 1 June, unless the U.S. secured a deal to purchase Greenland.
The announcement pushed investors toward safe-haven assets and sent gold to new record highs while equities retreated across Asia, Europe and the U.S.
The S&P 500 fell 2.06% to 6,796.86, the Nasdaq Composite dropped 2.39% to 22,954.32 and the Dow Jones Industrial Average lost 1.76% to close at 48,488.59.
Traders also saw renewed selling pressure in U.S. Treasuries as markets digested the scale of the trade measures and the political signal behind them.
At the New York Stock Exchange, analysts said the Greenland dispute had become an unexpected catalyst for broader concern over Trump’s escalating economic actions.
Robert Conzo of The Wealth Alliance described the day as feeling like a “tipping point”, noting that the standoff over Greenland came on top of tensions involving Venezuela, U.S. immigration policy, pressure on the Federal Reserve and the President’s push for a global peace board.
Conzo said markets were now trying to judge whether Trump would push the confrontation further or pivot toward negotiations with European leaders, after recent periods in which volatility indicators such as the VIX had been subdued.
He added that investors were assessing whether the latest move would trigger a deeper correction or simply a sharp, temporary pullback as the administration’s strategy became clearer.
European leaders have repeatedly dismissed any prospect of selling Greenland, an autonomous territory of Denmark, and criticised the tariff threats as destabilising.
The dispute has added a new layer of uncertainty ahead of the World Economic Forum in Davos, where Trump is expected to press his case directly with several counterparts.
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The European Commission sees no immediate impact on the European Union's security of oil supply from the escalating conflict in the Middle East, it said in an email to EU governments, seen by Reuters on Monday (2 March).
Wall Street ended sharply lower on Tuesday as investors worried about artificial intelligence (AI) creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet and Amazon later this week.
U.S. stock markets finished mixed on Wednesday (28 January) as investors reacted calmly after the Federal Reserve left interest rates unchanged, a decision that had been widely expected and largely priced in.
Wall Street closed higher on Tuesday, boosted by optimism over artificial intelligence (AI) and a strong rally in Moderna shares, with the Dow Jones Industrial Average approaching a record high.
The inaugural Enhanced Games began in Las Vegas on Sunday (24 May), launching one of the most controversial experiments in modern sport, in which athletes openly compete using performance-enhancing drugs banned under traditional anti-doping rules.
A peace agreement between Washington and Tehran is yet to materialise, with U.S. President Donald Trump saying that negotiations are incomplete and an Iranian Foreign Ministry Spokesman saying that a deal isn't imminent.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 25th May, covering the latest developments you need to know.
The World Health Organization warned on Monday that the fast-moving Ebola outbreak in the Democratic Republic of the Congo and Uganda was outpacing response efforts, with 220 suspected deaths reported so far.
As dawn broke on Monday, pilgrims began arriving at the sacred site of Mina west of Mecca, marking the start of Hajj - one of the most significant spiritual journeys in Islam.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
Kevin Warsh will be sworn in as chair of the U.S. Federal Reserve on Friday as policymakers consider higher interest rates to tackle inflation linked to the Trump administration’s Iran policy.
A government-mediated agreement has suspended an 18-day walkout by about 48,000 Samsung union members, easing fears of damage to South Korea's economy and global chip supply.
Asian stocks surged on Thursday as some vessels resumed passage through the Strait of Hormuz, while forecast-beating results at Nvidia and a suspended workers' strike at Samsung Electronics lifted shares of chipmakers.
Elon Musk’s SpaceX will have to improve its reliability before receiving approval for its target 10,000 launches annually within five years, Bryan Bedford, Head of the U.S. civil aviation agency, the Federal Aviation Administration (FAA), has said.
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