Name: Stocks plunge as global concerns about Trump tariffs over Greenland grows
Uploaded: 2026-01-21T14:57:59.546Z
Duration: 2 min 2 s
Description: Stocks plunged on the first day of trading after President Trump threatened tariffs against European nations that oppose his bid to acquire Greenland. Lauren Hirsch, a New York Times reporter, joins CBS News with more.

Stocks plunged on the first day of trading after President Trump threatened tariffs against European nations that oppose his bid to acquire Greenland. Lauren Hirsch, a New York Times reporter, joins CBS News with more.

Washington

U.S. stock markets experienced significant declines after President Trump announced new tariff threats tied to his efforts to take over Greenland. The Dow Jones Industrial Average dropped over 870 points, while the Nasdaq and S&P 500 each fell by more than 2 percent, marking Wall Street's worst day in months.

Market analysts and business leaders expressed concern that the tariff announcement could negatively affect the relationship between the United States and Europe, which is crucial for global commerce. The unexpected move has caused uncertainty and distraction among business leaders, complicating efforts to focus on economic priorities such as affordability.

Stocks plunge as global concerns about Trump tariffs over Greenland grows

Now President Trump's new tariff threat stemming from his push to take over Greenland that has itself rattled markets Take a look at this yesterday Wall Street suffered its worst day in months. The Dow dropped more than 870 points at close at around 48,500 and both the Nasdaq and the S&P 500 also fell more than 2% each Lauren Hirsch covers Wall Street for the New York Times and joins us with thoughts on this. Good morning, Lauren Let's be clear How strong is the link between the president's Greenland tariffs announcement and the poor stock performance that we witnessed yesterday? You know, I'm sure it's obvious right now talking to CEOs talking to bankers and they're they're nervous There's a lot of hope that this gets resolved But the stock market shows there's genuine concern that this could have an impact on the European u.s. Relationship It's very important for global business. So there's definitely concern and also a little bit of wait-and-see Certainly, I see how today's speech does but if what the president said before he left the u.s. Is any indication? He's gonna hit the same notes at Davos. He was meant to focus on affordability This is what viewers tell us across the u.s. They care about most but how does his Intention to take over Greenland distract from that and actually hurt the affordability effort it's a great question, you know, a lot of business business leaders say every time there's a Wrench thrown into their plans a surprise this this year obvious or this week being Greenland. It does check Yes, it does make business any hard They've learned to not kind of jump at everything because things can change so quickly But it you know, it's not the day-to-day Purpose of their of their job, you know this week it's meant really be at setting the tone for the year And this has been a huge distraction Lauren Hirsch at Davos do your best to enjoy yourself. I hear it's quite pretty out there as well as the intense work You have to do. Thank you, Lauren

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Breakdown