U.S. stock futures and Treasury prices dropped as President Trump's tariff threats over Greenland and a jump in Japanese bond yields stirred up global markets.
Trump has headed to the World Economic Forum in Davos, Switzerland. He said on Truth Social that he plans to meet with "various parties" there about Greenland. Overnight, he fired off posts doubling down on his plans for the semiautonomous Danish territory.
Stocks around the world sold off, while futures for the Dow industrials and S&P 500 lost about 1.5%. Big technology names such as Nvidia and Tesla dropped premarket. Nasdaq-100 futures fell around 2%.
Japan's long-term government bond yields leapt to record highs, on concern a coming election could lead to a tax cut that dents the country's finances. U.S. Treasury yields rose to the highest since September.
The dollar weakened, retreating against the yen, euro and Swiss franc. Gold and silver futures rallied to new intraday record highs. Gold gained more than 3%, topping $4,700 a troy ounce.
The U.S. Supreme Court is yet to rule on the legality of Trump's sweeping levies. The court is expected to issue decisions on Tuesday, but doesn't pre-announce which cases it will decide.
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(END) Dow Jones Newswires
January 20, 2026 06:07 ET (11:07 GMT)
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