The U.S. markets had a rough day...
The Nasdaq (-2.39%) and S&P 500 (-2.09%) fell over two percent today, plummeting as a risk-off across assets hammered the market. The indexes ended out the day at 22,954.30 and 6796.86, falling below the 23K and 6.8K mark. The Dow (-1.76%) wasn't much better off, declining 870.74 points to 48,488.60. Just eight stocks in the 30-strong index were in the green today.
Geopolitical sparring over Greenland was the cause, with virtually every sector except consumer defensive and health care ending out the day hammered. President Donald Trump's threat on Greenland, a territory of Denmark, has led European leaders to punt on a U.S-E.U. trade deal, while also weighing other countermeasures against the U.S. The war of words could pale long-term consequences to U.S. relations abroad, especially with NATO and EU allies.
With these legs lower, all three major large cap indexes have swung into the negative on the year, leaving just the Russell 2000 (-1.20%) in the green year-to-date. It also experienced declines today, albeit not as steeply as the large cap indexes.
Unfortunately, those banking on a quick bounce might be mistaken. As investors await the Supreme Court's decision on tariffs and prepare to digest Q4 earnings, they'll need to balance another thing --- the emergence of a possible "Sell America" trade, among other possible problems.
-- Noah Weidner
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