United States stock futures pointed to a weaker open on Wall Street on Monday night as President Donald Trump intensified his rhetoric over Greenland, threatening new tariffs on countries opposing the sale of the Danish territory to the United States.
By 10:45 am AEDT (11:45 pm GMT), Dow Jones futures were down 0.8%, S&P 500 futures slipped 0.9%, and Nasdaq 100 futures fell 1.1%.
American markets were closed earlier in the day for the Martin Luther King Jr. holiday.
Trump said in a Truth Social post on Saturday that imports from eight NATO member countries would face escalating U.S. tariffs “until such time as a Deal is reached for the Complete and Total purchase of Greenland”.
The tariffs are set to begin at 10% on 1 February and rise to 25% by 1 June, according to the president.
European leaders have labelled the proposed measures “unacceptable”, with the comments weighing on European equities.
Shares of carmakers and luxury goods companies declined on Monday, while some European defence stocks advanced amid rising geopolitical tension.
The tariff threat also comes as the administration’s trade measures face legal scrutiny. The U.S. Supreme Court could rule as soon as next week on whether to strike down Trump’s tariffs imposed under the International Emergency Economic Powers Act.
Treasury Secretary Scott Bessent said on Sunday that he believes it is “very unlikely that the Supreme Court will overrule a president’s signature economic policy”.
Global markets were further unsettled by reports of escalating unrest in Iran. An Iranian regional official said on Sunday that at least 5,000 people have been killed in nationwide protests that began on 28 December over economic hardship and have since evolved into broader calls to end clerical rule.
U.S. equities are coming off a losing week. The S&P 500 fell 0.4%, the Dow Jones Industrial Average slipped 0.3%, and the Nasdaq Composite declined 0.7%, despite a brief lift in chipmaking stocks linked to artificial intelligence following Taiwan Semiconductor’s strong fourth-quarter earnings report.
Investors will also be watching a busy earnings calendar in the days ahead, with quarterly results due from companies including Netflix, Charles Schwab, Johnson & Johnson and Intel.
