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.
Russia and Ukraine exchanged attacks overnight, with at least two people killed in strikes on Kyiv, the Ukrainian capital's Military ...
Operations at several energy facilities in Saudi Arabia were suspended on Tuesday after attacks by Iran-aligned Houthi forces injured more than 70 ...
Female employees at the Eiffel Tower were asked to leave their workstations and step out of sight during a private visit by a Hindu religious deleg...
At least five people were killed and five others injured when an Amazon Prime Air cargo plane overran a runway and crashed while landing at Miami International Airport on Sunday, 6 September, local officials said.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf said on Sunday that the United States must recognise that the “rules of the game” in its war against Iran had changed “before it is too late”, a day after Washington struck several Iranian tankers in the Gulf.
U.S. special envoys Jared Kushner and Steve Witkoff have held talks with Ukrainian President Volodymyr Zelenskyy in Kyiv on Sunday on efforts to end Russia’s war in Ukraine.
Seven Indonesian airports, including two serving Jakarta, remained closed early on Monday morning because of volcanic ash from eruptions at Mount Anak Krakatau, the transport minister said. One other airport in South Sumatra has been reopened.
Germany's far-right Alternative for Germany (AfD) has scored a historic victory in Saxony-Anhalt, emerging as the strongest party in the eastern state and putting it closer than ever to forming a regional government.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment