Markets Fall on Greenland News, Trump Ties Nobel Prize to Greenland, More
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News when you want it with Bloomberg News Now. I'm Dan Schwartzman. German Finance Minister Lars Klingbeil telling reporters in Berlin today that President Trump reached a red line with his threat to hit NATO allies with additional tariffs for opposing his bid to annex Greenland. Klingbeil said, quote, We are constantly experiencing new provocations. We are constantly experiencing new antagonism, which President Trump is seeking. And here we Europeans must make it clear that the limit has been reached. The minister speaking alongside his French counterpart said there was a European toolbox available to use to respond to economic blackmail, which they believe should be now examined. British Prime Minister Keir Starmer says the decision is not Trump's to make.
Any decision about the future status of Greenland belongs to the people of Greenland and the Kingdom of Denmark alone. That right is fundamental.
And we support it. That's British Prime Minister Keir Starmer. Meanwhile, German Chancellor Friedrich Merz says he's trying to persuade French President Emmanuel Macron to tone down his response to President Trump. Macron wants to activate the European Union's so-called anti-coercion instrument, but Germany doesn't want to resort to that yet as the country depends on exports more than France. President Trump has linked his claims on Greenland to not being awarded the Nobel Peace Prize in a letter to Norway's prime minister. The president says the world is not secure unless the U.S. has, quote, complete and total control of Greenland. The Nobel Peace Prize, though, isn't decided by the Norwegian government, but is awarded by an independent committee.
Markets reacting negatively to the news on Greenland with futures all down. from three quarters of a percent to 1.4%, while European markets are also roiled down anywhere from four tenths of a percent to one and a half percent. At least 39 people are reported dead after a high-speed train carrying around 300 passengers traveling between Malaga and Madrid derailed and hit another train coming in the opposite direction. The accident took place around 7.45 p.m. local time. Spain has one of the world's largest high-speed train networks, which consists of private and state-owned players. Russian President Vladimir Putin's spokesman Dmitry Peskov says that Putin, quote, received through diplomatic channels, unquote, an invitation to join President Trump's Board of Peace for the reconstruction of Gaza.
Peskov says the Kremlin is reviewing the invitation and is looking to get more details from the U.S. Others invited to the board include the leaders of Turkey, Brazil, Argentina and Canada, amongst others. Gold and silver jumped to record highs as President Trump's push to take over Greenland spurred fears of a trade war between the U.S.
What news caused markets to react negatively regarding Greenland?
and Europe. Precious metals have rallied sharply this year, with many analysts expecting the gains to continue, citing geopolitical risks and uncertainty undermining growth prospects and trust in the U.S. dollar. Spot gold traded near $4,670 an ounce, while silver surged as much as 4.4%. Overall, precious metals have rallied sharply this year following dramatic gains in 2025. Japan's Prime Minister Sanae Takeuchi plans to campaign on a two-year cut to the sales tax on food in a snap election that'll take place with early polling beginning on February 8th. Economists warn the move will cost around 5 trillion yen, that's equivalent to $31.6 billion per year. Takahichi said she was still considering how to fund the move.
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