On Tuesday, the three major US stock indices opened significantly lower, with the Nasdaq Composite dropping sharply by 1.5%. Leading technology stocks weakened, with NVIDIA (NVDA.US), Tesla (TSLA.US), Amazon (AMZN.US), and Meta (META.US) all falling more than 2%. Alphabet (GOOGL.US) and Microsoft (MSFT.US) declined nearly 2%, while Apple (AAPL.US) dropped close to 1%.
On the news front, Stephanie Lose, the Danish Minister for Economic Affairs, stated that the European Union must retain all possible response measures following US President Donald Trump's threat to annex Greenland. Lose said, "At present, we should not rule out any possibilities. We do not want the situation to escalate, but we must keep all options available."
She pointed out that the EU is prepared to impose retaliatory tariffs on US goods valued at 93 billion euros, equivalent to approximately 690 billion Danish kroner. Lose called for dialogue with the United States to prevent an escalation of the trade war, which could have negative consequences for both sides of the Atlantic.
