Global Markets React to Trump Tariff Threats Amid Greenland Dispute

Global markets experienced volatility as President Trump threatened new tariffs on European goods tied to the Greenland dispute. Stocks declined, while gold and silver surged. European leaders condemned the threats, and potential EU retaliation is anticipated. Currency markets saw fluctuations with safe-haven currencies gaining ground.

Global financial markets experienced significant fluctuations on Monday following President Donald Trump's declaration of additional tariffs targeting European imports. This move came after European opposition to the U.S.'s proposed acquisition of Greenland led to geopolitical tension.

Gold and silver prices surged to historic highs, reflecting market anxieties, while oil prices fell amid concerns about the broader implications of a U.S.-Europe trade war. European stocks slumped, with major indices in Frankfurt, Paris, and London suffering losses alongside drops in Japan and Asia-Pacific shares.

In response, the European Union voiced strong disapproval, with France suggesting potential countermeasures. Investors are closely monitoring developments as global leaders gather at the World Economic Forum in Davos. These financial upheavals coincided with Martin Luther King Jr. Day, resulting in closed U.S. cash equity markets on Monday.

(With inputs from agencies.)