Wall Street Has Worst Session Since April Meltdown: Markets Wrap

Stocks, bonds and the dollar fell after President Donald Trump threatened tariffs on various European countries before high-level meetings in Davos amid a growing standoff over his ambitions to take over Greenland. Bitcoin plunged. Gold hit all-time highs.

The renewed tensions drove the S&P 500 down 2.1%, erasing its 2026 gain. A gauge of equity volatility jumped to the highest since November. Long-term US yields hit a four-month high, with investors also reacting to a rout in Japanese bonds and news that a Danish pension fund is planning to exit Treasuries. The dollar slid against most major currencies.