Stocks dipped on Tuesday morning after President Donald Trump threatened eight NATO members with 10% tariffs to begin on February 1 that could jump to 25% in June.
The threats come from Trump’s desire to purchase Greenland.
In response, futures for the S&P 500 sank 1.8% while futures for the Dow Jones Industrial Average dropped 1.6%, almost 600 points. The tech heavy Nasdaq slumped 1.8%. As of 8:37 a.m. Central Standard Time they sit at 6,845, 48,695 and 23,116, respectively.
Markets in Paris, Frankfurt and London all fell more than 1% and may hit a second straight day of losses.
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Gold and silver still remain strong, with both rising to record numbers, with gold up 3% at $4,733 an ounce while sSilver jumped more than 7% to $95.30.
