Gold rose on Wednesday as tensions between the U.S. and Europe simmered over President Trump's renewed push to take over Greenland.
MP Materials Corp (NYSE:MP) and USA Rare Earth Inc (NASDAQ:USAR) shares are on the rise today, as investors monitor the rare earths sector while the U.S. and Europe clash over the sale of Greenland.
The Magnificent Seven aren't looking so magnificent to start the week.
Chances are good that many investors are happy today is a holiday, and thus the stock markets are closed. That's because over the weekend, President Donald Trump announced the threat of new tariffs levied against America's most prominent European allies.
Tech stocks led U.S. market declines on Tuesday as tariff rhetoric tied to Greenland sparked a risk-off move. Howeve Wedbush's Dan Ives viewed the pullback as a buying opportunity ahead of earnings and continued AI spending.
Oil prices rose on Tuesday after better-than-expected economic growth data from China lifted demand optimism, with markets also watching President Donald Trump's threats of increased U.S. tariffs on European nations over his desire to buy Greenland.
Gold and silver prices climbed to fresh record highs as investors moved into safe-haven assets following renewed trade-war concerns linked to comments by US President Donald Trump regarding Greenland and potential tariffs on European countries. Trump warned that the United States could impose new tariffs on several European nations, including France, Germany and the United Kingdom, over opposition to his push for the US to acquire or exert control over Greenland.
The price of gold surged to a new high as safe-haven demand grew due to rising economic uncertainty sparked by US tariff threats over Greenland. Donald Trump at the weekend threatened tariffs of 10%, rising to 25%, against nations objecting to the US purchasing Greenland.
President Trump has warned 8 European countries of further tariffs should they block the U.S. from acquiring Greenland by June. U.S. Treasury Secretary Scott Bessent, says European leaders will eventually be convinced the move is beneficial to the collective security of all NATO members.
Bitcoin and most other major cryptocurrencies fell sharply overnight, in synch with equity futures and other financial market products. The dollar price of bitcoin was down 2.15% over 24 hours to $92,989, having come close to $98K last week, but was largely flat over the past seven days.
Concerns European nations will retaliate raises fears of more trade turmoil
The automotive sector is widely regarded as acutely vulnerable to levies. In this article STLA