European stocks open sharply lower as Trump’s “Greenland Tariff” threat sparks trade war concerns

Following US President Trump’s sudden announcement over the weekend of tariffs on 8 European countries, European markets opened significantly lower on Monday (January 19), with risk aversion rapidly intensifying.
As of European morning:
• Euro Stoxx 50 -1.7%
• Germany DAX -1.3%
• France CAC40 -0.7%
• UK FTSE 100 -0.4%
• Defense stocks rose against the trend by 1–2%, while export and tech stocks came under pressure.

Risk aversion erupts:
• Gold soared to a historic high of $4690/oz
• Silver rose about 3%
• US stock futures declined, Bitcoin dropped below $92,000, with approximately $7.8 billion in 24-hour liquidations.

Europe’s firm response:
• Joint statement from 8 countries: Tariff threats undermine transatlantic relations, firmly support Denmark and Greenland’s sovereignty.
• France, UK, Sweden, and others explicitly oppose, EU initiates discussions on counter-coercion tools.
• EU considers a €93 billion US goods retaliation list, potentially suspending US-EU trade agreement negotiations.

Market impact and crypto correlation:
• Short-term: Trade war risks increase, European stocks under pressure, inflation expectations rise, risk assets weaken.
• Medium-term: NATO fissures widen, EU accelerates strategic autonomy, defense sector benefits.
• Crypto market: Risk appetite declines, BTC/ETH fluctuate weakly, funds shift more towards gold and other traditional safe-haven assets.

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