Stocks fell and gold hit a new record as trade tensions between the United States and Europe intensified over President Donald Trump’s push to take control of Greenland. Investors treated the dispute as a renewed tariff risk and reduced exposure to equities.
The New York Stock Exchange (NYSE) also said it is building a blockchain-based venue for tokenized stocks and exchange-traded funds (ETFs) that could trade around the clock, pending regulatory approval.
S&P 500 futures fell 1.1% as of 10:03 a.m. New York time, and NASDAQ 100 futures fell 1.4%. Dow Jones Industrial Average futures declined 0.9%, while the Stoxx Europe 600 dropped 1.1%.
Gold rose 1.6% to $4,669.93 an ounce, while the Bloomberg Dollar Spot Index fell 0.3%. The euro rose 0.4% to $1.1643. Bitcoin fell 2.6% to $92,924.06, and Ether fell 3.7% to $3,217.46. Germany’s 10-year yield was little changed at 2.83%, and Britain’s 10-year yield was little changed at 4.40%.