US stocks climb some more after Trump calls off his tariffs for Greenland
By STAN CHOE
Updated 3:38 AM GMT+5, January 23, 2026
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NEW YORK (AP) — U.S. stocks rose again Thursday and regained more of their losses for the week following the latest walk back by President Donald Trump from tariffs he had earlier threatened.
The S&P 500 gained 0.5% and added to its big gain from Wednesday, when Trump said he had reached “the framework of a future deal with respect to Greenland” and called off 10% tariffs for European countries that he said opposed his having the Arctic island. The index has recovered most of the losses it took after Trump shook financial markets with his initial tariff threat.
The Dow Jones Industrial Average climbed 306 points, or 0.6%, and the Nasdaq composite rose 0.9%.$$
It’s the latest example of Trump making a big, initial threat, only to pull back after seeing how much pain it created in financial markets. The pattern has led to the “TACO” acronym, suggesting that “Trump Always Chickens Out” if markets react strongly enough. Tuesday’s drop for the U.S. stock market was the worst since October and large enough that Trump, who often takes credit when Wall Street is doing well, acknow
ledged “the dip.”