Stocks Sink, Trump Eyes New Tariffs, Netflix to Boost Spending, More
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News when you want it with Bloomberg News Now. I'm Amy Morris. Stocks sank on Wall Street after President Trump threatened to hit European countries with new tariffs as tensions escalate over his attempts to assert American control over Greenland. We bring you the closing numbers each day here at Bloomberg.
Why did stocks sink on Wall Street after Trump's tariff threats?
The S&P lost 143 points. Nasdaq fell 561 points. The Dow sunk 871 points. The 10-year Treasury yield at 4.29%, the 2-year yield at 3.59%, Bitcoin down more than 3.6%, Safe Havens, WTI crude gained 1.5%, Brent crude pretty much flat, and COMEX Gold up 3.7%. Netflix shares down nearly 4% now in the post market after delivering fourth quarter results that largely beat Wall Street estimates, but issued a cautious forecast for the months ahead. Netflix says it'll spend more on programs this year, plus it plans to buy Warner Brothers Discovery, so it will have to raise prices this year. United Airlines shares more than 4% higher in the post market. after the airline beat Wall Street estimates for the fourth quarter as it anticipates a strong 2026 driven by demand from high-spending domestic passengers and international travelers.
The military says it seized another oil tanker in the Caribbean. U.S. Southern Command says it took over the tanker Sagida this morning. saying it was operating in defiance of President Trump's quarantine of sanctioned vessels. In a post on X, the military says, President Trump, meanwhile, is heading to the World Economic Forum in Davos, Switzerland, where he's expected to push for U.S. control of Greenland and has threatened additional tariffs on countries that resist. prompting concerns that european countries may weaponize their holdings of bonds and stocks now on that news denmark's pension fund for teachers and academics says it will exit u.s treasuries at the end of this month in part because of the greenland pressure but also because of concerns about fiscal discipline in the u.s and a weaker dollar and walsh is chief investment officer at guggenheim managers i 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.
But Treasury Secretary Scott Besant dismissed the idea that countries would start dumping their treasuries.
I think that the NATO alliance is very safe, sound. And thanks to President Trump, it's never been more secure.
A lot of attendees in Davos had something to say about this latest threat from the president. UK Chancellor of the Exchequer Rachel Reeves said 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.
And US Trade Representative Jameson Greer says trade agreements are focusing on the wrong things.
I think when you have a trade agreement, And if something happens outside the bounds of that trade agreement, countries have a decision to make and they're going to base it on their domestic politics, on what they think they need to do. And part of what I've been discussing this whole time is that trade should be focused on national interests and that we shouldn't be bound to agreements that tie our hands.
French President Emmanuel Macron says U.S. tariffs used as leverage against sovereignty are unacceptable, arguing that Europe should not hesitate to use its anti-coercion mechanism in retaliation.
Europe has very strong tools now and we have to use them when we are not respected and when the rules of the game are not respected, by the way.
Finnish President Alexander Stubbs says there is a short-term need to de-escalate language on Greenland and he says he's been communicating with the president over that issue.
A lot of it is actually about person-to-person engagement and the fact that I'm able to communicate directly with the president puts me as president of Finland into good position.
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