Major U.S. stock indexes tumbled Tuesday following President Donald Trump's threat to impose new tariffs on eight NATO allies over Greenland. The Dow Jones Industrial Average fell 850 points (-1.7%), the S&P 500 dropped 1.9%, and the Nasdaq 100 slid 2.1%, led by declines in big tech and chipmakers.Biggest Losers:
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Broadcom (AVGO): -5%
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3M (MMM): -8% post-earnings after missing guidance
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Fastenal (FAST): -3% following slightly below-expectation Q4 sales and operating margin
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Tech Titans (Magnificent Seven): Nvidia (NVDA), Alphabet (GOOGL), Amazon (AMZN), Meta (META), and Tesla (TSLA) all down 1.5-3.5%
Biggest Winners:
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RAPT Therapeutics (RAPT): +65% premarket after GSK agreed to acquire the biotech firm for $2.2B, a 65% premium over Friday’s close
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Netflix (NFLX): +0.4% amid news it converted its Warner Bros. Discovery acquisition bid to an all-cash offer
Market Drivers:
Investor sentiment soured due to geopolitical tensions over Greenland and potential U.S.-Europe trade conflicts. Safe-haven assets surged, while risk assets, including tech stocks and crypto, faced pressure.