economy
January 19, 2026
European markets fell after Trump's Greenland tariffs threat; autos and luxury sell off
European stocks were sharply lower on Monday as traders react to U.S. President Donald Trump's threat to hike tariffs on a number of European countries.
TL;DR
- European stocks fell as Trump threatened tariffs on eight European allies over Greenland.
- Tariffs would escalate from 10% to 25% if a deal for Greenland isn't reached.
- Denmark, Norway, Sweden, France, Germany, the U.K., the Netherlands, and Finland are targeted.
- European carmakers and luxury goods sectors experienced significant drops.
- Rheinmetall and Thales, defense stocks, saw gains.
- ASM International reported stronger-than-anticipated preliminary bookings.
- U.S. gold futures hit a 52-week high.
- Markets are watching the World Economic Forum in Davos, where Trump is scheduled to speak.
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