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On January 19, 2026, global risk assets suddenly plummeted collectively, with nearly 240,000 people liquidated in the cryptocurrency market within 24 hours. U.S. stock futures and Asian-Pacific stock markets fell in unison, while safe-haven assets like gold and silver reached historic highs against the trend. The core trigger was actually Trump's use of tariffs as a weapon to force European countries to agree to the U.S. 'purchase of Greenland' in a political gamble.
🔥 Core context of the event: The Greenland dispute triggered panic over the trade war
Trump's tariff threats
On January 17, Trump announced on social media that tariffs would be imposed on eight European countries, including Denmark, Norway, and Sweden: a 10% tariff starting February 1, increasing to 25% on June 1, until the countries agree to the U.S. 'complete purchase of Greenland.' He claimed that the military exercises of European countries in Greenland had 'unclear purposes' and were a 'dangerous game.'