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S&P, Nasdaq Extend Slide to 2%, Trump Doubles Down on Greenland, More
20 Jan 2026
Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Amy Morris. Stocks, bonds, and the dollar all fell.
Chapter 2: What are the latest trends in stock market performance?
Rhetoric about a renewed trade war with the EU is ramping up. We check markets for you all day long here at Bloomberg.
Chapter 3: How is the trade war rhetoric affecting global markets?
The S&P 500 is down nearly 2%. NASDAQ down 2.25%. The Dow down 1.8%. The 10-year Treasury yield at 4.28%. The 2-year yield at 3.59%. Bitcoin still falling, now down more than 3.8%. And safe havens, oil and gold are higher. Gold gaining 3.75%. Brent crude gaining about 9 tenths of a percent. NYMEX crude oil gaining 1.5%. Japanese Finance Minister Satsuki Katayama said,
called on market participants to calm down after an intense day of bond selling pushed up yields on long-term government debt to the highest levels in decades. Greenland's prime minister says the population and authorities need to start preparing for a possible military invasion. even if that does remain unlikely.
The government will form a task force and distribute new guidelines to the population, including a recommendation to store enough food in their homes for five days. Treasury Secretary Scott Besson at Davos says there is a reason why President Trump has his sights set on Greenland.
There's the opportunity for the U.S. to become embroiled ex post into a kinetic war if another country moved in on Greenland and no country is going to assert control of Greenland if the U.S. controls Greenland.
Treasury Secretary Besson on the sidelines of the World Economic Forum's annual meeting in Davos. Former White House economic advisor Gary Cohn says he understands the president's ambition.
The question is, is this a negotiating posture to get a deal with Greenland, to get more rare earths, to get a larger naval and air force presence? And it may be. It does seem like that's on the table. And this may all evolve in a place where the United States ends up in a very good strategic position.
Gary Cohn is now vice chairman of IBM. He spoke with Bloomberg surveillance from the World Economic Forum at Davos. UK Chancellor of the Exchequer, Rachel Reeves, says Britain wants to reduce tensions with the US before the president arrives in Davos.
The strategic relationship between the US and UK, the military and strategic partnership between our countries is more important than... the partnership between any two countries in the world.
Reeves spoke at Bloomberg House in Davos. Trade Representative Jameson Greer says that trade agreements are focused on the wrong things.
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Chapter 4: What are the implications of Greenland's military preparedness?
Anne Walsh is chief investment officer at Guggenheim Managers.
I tend to disagree with the Danish pension plan. I do actually think that the U.S. is a good credit. And in particular, I think U.S. credit is a good credit. And I think fundamentals remain strong.
Ann Walsh with Guggenheim Managers also spoke with Bloomberg from Davos. Federal prosecutors have subpoenaed Minnesota officials, including the governor. Governor Tim Walz, Attorney General Keith Ellison, Minneapolis Mayor Jacob Fry, St.
Paul Mayor Kelly Herr, and officials in Ramsey and Hennepin counties were reportedly all served with subpoenas as part of an investigation into whether any of them impeded federal law enforcement during migrant sweeps. Walls and Frey have called the probe a bullying tactic meant to threaten political opposition.
Hawaii is one of several states that outlaw carrying your gun into a store or restaurant unless the owner specifically allows it. A group of Hawaiian gun owners asked the Supreme Court to overturn that law, saying it violates their Second Amendment gun rights. Lawyer Neil Katyal argued for the state's right to pass such a law.
In some states, it's natural to say when a homeowner invites you in, they're fine with you bringing your gun unless they say otherwise. And the same is true for stores.
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Chapter 5: Why is President Trump interested in Greenland's resources?
In some places, it's reasonable to assume guns are welcome. In others, it's pretty clear an invitation to shop is not an invitation to bring your Glock.
Attorney Alan Beck represents those gun owners.
That violates our nation's historical tradition of firearms carry, and two, it violates that principle that dictates that you have a general right to carry.
The court's decision is expected by this summer. That's news when you want it with Bloomberg News Now. I'm Amy Morris and this is Bloomberg.