By William Collins, consultant in stock markets – Eurasia Business News, January 19, 2025. Article no 2001

Global stocks retreated sharply following President Trump’s tariff threats tied to the Greenland dispute, with European markets leading the selloff as investors braced for renewed transatlantic trade tensions. U.S. exchanges remained closed for Martin Luther King Jr. Day on January 19, leaving futures and Asian markets to signal further downside pressure ahead of Wall Street’s reopening.​

European market declines

Major indices across the continent opened lower, reflecting risk aversion:

  • The pan-European Stoxx 600 fell around 1.5–2%, with exporters and luxury goods underperforming amid direct tariff exposure.​
  • France’s CAC 40 dropped over 2%, Germany’s DAX shed about 1.8%, and the UK’s FTSE 100 declined roughly 1.2%.​
  • Sectors hit hardest included automobiles, luxury brands, and banks, as Trump targeted France, Germany, the UK, and others with proposed 10% duties rising to 25%.​

U.S. markets closed

American stock markets observed a federal holiday, halting trading and preventing an immediate reaction to the weekend headlines.​

Gold and silver prices hit record

Gold hits record $4,689.39 an ounce. Silver reaches record peak of $94.61 · Dollar slides on trade war risk.

Spot gold hit an intraday high of exactly $4,689.39 per ounce before settling around $4,670–4,685, up over 1.8% on the session—its best day in weeks.​

​​Read also : Gold : Build Your Wealth and Freedom

Spot silver reached a new all-time peak of $94.61 per ounce (some sources cite $94.08–94.10), gaining about 3–4% as industrial demand combined with haven flows.​

The dollar fell on heightened recession risks from tariffs, with EUR/USD rising toward 1.10 and safe-haven yen gaining ground, reflecting classic trade-tension dynamics.

What drove the retreat

Trump’s announcement on January 18 specified tariffs on imports from eight European nations—Denmark, Norway, Finland, France, Germany, the Netherlands, and the UK—unless they support U.S. acquisition of Greenland, framing it as a national security imperative against Russia and China. European leaders condemned the move as “blackmail” and are preparing countermeasures, including potential activation of the EU’s “trade bazooka” anti-coercion tool.

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© Copyright 2025 – Eurasia Business News. Article no. 2001