Wall Street ends lower on Trump Greenland tariff threats

STORY: Wall Street's main indexes ended Tuesday with their biggest one-day declines in three months, with the Dow losing one-and-three-quarters percent, the S&P 500 shedding 2% and the Nasdaq plunging about 2.4%.Fresh tariff threats from President Donald Trump against European nations opposed to his quest for Greenland reignited concerns of increased market volatility.“Today is an interesting day because it feels like a tipping point. The Greenland situation was a unique one.”Robert Conzo is CEO and managing director of The Wealth Alliance.“So what the market is doing right now is trying to assess, is Trump going to do what he normally does, push it to the edge? To what degree will that market go down and then pull back? Start negotiating with various countries and then having the market take a breather? Because we were in a breather for a while. We had the VIX (CBOE Volatility Index) below 15 for a long time. We had ten-year trading ranges at almost ten basis points for a while. There was a little bit of a lull in the market. News flows start to slow down a bit and here we go, ramping it all up with this moment in time with Greenland. So time will tell.”The risk-off trade was pervasive, helping vault gold to fresh record highs, and pushing up debt costs with U.S. Treasuries wobbling under renewed selling pressure.Bitcoin, which can climb when traditional markets waver, fell more than 3%.Fourth quarter earnings season is also kicking into higher gear, with several industry bellwethers reporting this week.Among them, industrial giant 3M on Tuesday forecast annual profit slightly below Wall Street estimates, sending its shares down roughly 7%.Other companies reporting on Tuesday included Netflix, which remains locked in a fierce bidding war for Warner Bros Discovery. The streaming leader squeaked past Wall Street's revenue estimates, but shares dropped more than 4% in extended trading.