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Tuesday: $NFLX $UAL $MMM $IBKR Earnings; WEF Day 2
Wednesday: Pending Home Sales; $JNJ $HAL Earnings; Trump Davos WEF Speech
Thursday: PCE Inflation, Jobless Claims, Q3 GDP; $INTC $PG $GE Earnings 🚨
Friday: Mfg., Services PMIs, Consumer Sentiment; $SLB Earnings
President Trump's weekend threat of escalating tariffs on eight NATO allies over Greenland sparked a broad-based 'Sell America' trade. Nasdaq and S&P 500 futures fell 1% in early trading while Asian stocks dropped 0.44%, with the dollar sliding 0.3% to a one-week low.
Gold hit a record high of $4,690 per ounce, now trading near $4,670, as investors fled to safety. Silver also reached all-time highs above $94, while the Swiss franc and Japanese yen strengthened significantly against the dollar.
Bitcoin crashed overnight from $96,000 to just above $90,000, now down 1.76% at $90,000. The dramatic selloff coincided with Trump's tariff warnings, highlighting crypto's vulnerability during geopolitical stress despite its safe-haven narrative.
The 10-year Treasury yield climbed to 4.265%, its highest since early September, as 'Sell America' momentum built. The move signals growing doubts about U.S. asset credibility and concerns over tariff policy's economic impact.
Copper jumped 1.15% to $5.90 per pound on dollar weakness, while crude oil held steady near $59. The euro rose 0.43% to $1.17 as investors rotated away from dollar-denominated assets amid tariff uncertainty.
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