Thomas Lohnes/Getty ImagesStocks in Europe weakened, while the price of gold – a safe-haven asset – reached a new peak after US President Donald Trump threatened tariffs on European allies until a deal was reached for the US purchase of Greenland. In the United States, where markets are closed Monday, Dow futures were 0.9% down, while S&P 500 futures dropped by a steeper 1.2%. The US president announced Saturday that he would impose a 10% tariff from February 1 on goods from eight European countries. In response, the European Union is considering imposing €93 billion ($108 billion) of previously announced retaliatory tariffs against the United States. French President Emmanuel Macron has also reportedly called for the activation of the EU’s so-called anti-coercion instrument.

Source: CNN January 19, 2026 15:26 UTC