March S&P 500 E-Mini futures (ESH26) are down -1.58%, and March Nasdaq 100 E-Mini futures (NQH26) are down -1.95% this morning, pointing to a sharply lower open on Wall Street as sentiment took a hit after U.S. President Donald Trump threatened to impose new tariffs on a handful of European countries amid a dispute over Greenland.
President Trump announced in a Truth Social post on Saturday that exports from eight European countries—Germany, France, the U.K., the Netherlands, Sweden, Denmark, Finland, and Norway—will face 10% tariffs starting February 1st. Those are the countries opposing his bid to control Greenland. Trump said the levies would rise to 25% in June and remain in place until a deal is reached “for the complete and total purchase of Greenland.” In response, European officials are considering a range of countermeasures, including potential retaliatory tariffs on $108 billion of U.S. exports.
