Threat of U.S. tariffs over Greenland dispute rattles global markets

A sharp sell-off in U.S. assets, triggered by President Trump’s threat to impose sweeping tariffs on European allies over a dispute regarding Greenland, spilled into markets in Asia and Europe on Wednesday, pushing stocks in Japan and elsewhere in Asia lower. Taiwan’s Taiex index fell more than 1.5 percent and Japan’s Topix dropped 1 percent, while trading in Europe was more mixed, with small declines in France and Germany and Britain largely flat.

The dollar weakened against the Japanese yen but gained against the euro. Gold, viewed as a haven in times of turmoil, set a fresh record above $4,800 an ounce; a survey by the LBMA found most analysts expected gold to breach $5,000 per ounce this year, saying that “persistent geopolitical uncertainty — from conflicts to institutional tensions — keeps safe‑haven demand elevated.” In the United States, Mr.

Trump’s remarks drove stocks to their lowest levels in months, weakened the dollar and sent the yield on 10‑year Treasuries higher, marking the first major triple sell‑off in U.S. assets since April, when the administration unveiled plans for tariffs on dozens of trade partners. The slide began after Mr.

Trump threatened new tariffs against eight European nations unless they facilitated a U.S. takeover of Greenland, raising concerns that tit‑for‑tat trade restrictions could weigh on global growth.

Key Topics

Business, Donald Trump, Greenland, Taiex Index, Topix Index, Gold