January 20, 2026economicTradeEconomic PolicyForeign Policy
Dow Plunges 871 Points, S&P 500 Falls 2% as Trump Greenland Tariff Threats Spark Trade War Fears
U.S. stock markets suffered their worst day since October as investors reacted to Trump's 10% tariff threats on eight European NATO allies over Greenland. The Dow closed down 871 points (1.76%), the S&P 500 fell 2.06%, and the Nasdaq slid 2.39%. Over $1.2 trillion in S&P 500 market value was wiped out. Gold surged 3.7%, silver soared 6.9%, and the VIX fear index jumped 28%, its largest single-day spike since October.