European stocks tumble as Trump threatens Greenland tariffs
European stocks tumble as Trump threatens Greenland tariffs
European markets slide after Trump unveils escalating tariffs tied to Greenland, sparking EU backlash ahead of Davos.
European shares fell sharply on Monday after U.S. President Donald Trump threatened additional tariffs until the United States was allowed to buy Greenland, reigniting trade tensions and casting doubt on deals reached earlier. The pan-European STOXX 600 fell 1.3% in a gloomy start to a week packed with earnings and the World Economic Forum in Davos, which will be scrutinised for tariff cues and geopolitical outlook. France's CAC 40, Germany's DAX and London's FTSE 100 dropped 1.8%, 1.4% and 0.4%, respectively. Trump said he would impose an additional 10% tariff starting February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Britain. This will rise to 25% on June 1 if no deal is reached, he said. The threats have triggered a sharp pushback in Europe, where officials are discussing how to deter Trump while also drafting potential countermeasures. Live events show traders bracing for a turbulent week as markets try to price in further tariff risks and the broader geopolitical outlook. The market moves underline how disruptive the threats of tariffs remain as the U.S. president wields them as a policy lever, including against countries that have already struck trade agreements with Washington. U.S. markets were closed on Monday for Martin Luther King Jr. Day, limiting the immediate domestic reaction. Add as a Reliable and Trusted News Source Add Now! Read More News on European stocks and the Greenland tariff moves, with live updates on Sensex, Nifty, and other market tips and alerts in the context of the Davos gathering.
