NEW YORK, January 19, 2026, 18:38 (EST) — The market has closed.
- Nvidia’s shares listed in Frankfurt dropped 2.2% amid tariff concerns weighing on major U.S. tech stocks during the U.S. market holiday.
- NVDA ended Friday’s session at $186.23, slipping 0.44% following a volatile day of trading.
- Traders are eyeing if the risk-off mood spills over into Tuesday’s U.S. open and the upcoming batch of company earnings.
Nvidia (NVDA.O) shares traded in Frankfurt dropped 2.2% on Monday after U.S. President Donald Trump promised to expand tariffs on European nations until the U.S. gains the right to purchase Greenland. Alphabet’s Frankfurt shares slid 2.4%, while Microsoft fell 2.2%. Nasdaq 100 futures were down 1.25% as Wall Street remained closed for Martin Luther King Jr. Day. 1
The drop is significant since traders often see Nvidia as a barometer for risk appetite in large-cap tech. With U.S. cash markets reopening Tuesday, the key question is whether investors will take the holiday break to adjust their positions or dive straight into selling.
On Saturday, Trump announced plans to slap a 10% import tariff starting in February on products from Denmark, Norway, Sweden, France, Germany, the U.K., the Netherlands, and Finland, according to the Associated Press. Stephen Innes of SPI Asset Management called the move a test of “strategic alignment and institutional trust” that underpins Europe’s backing of U.S. assets. 2
Nvidia’s U.S.-listed shares closed Friday at $186.23, slipping 0.44% on the session. The stock traded in a range from $186.08 to $190.44, according to market data. 3
New analyst commentary gave Nvidia a boost. Investing.com reported Wolfe Research added Nvidia to its “Alpha List.” Analyst Chris Caso noted the stock was up “only” 36% in the past year. He highlighted that “Blackwell is now ramping fully” and Rubin remains on track for a second-half 2026 ramp. Caso sees Google’s TPU as Nvidia’s chief rival in custom chips. 4
Nvidia has turned into the go-to name for AI infrastructure, with its data-center chips at the core of many projects. When macro conditions sour, the stock tends to react quickly—sometimes before the full picture is clear.
Tariffs, however, cut both ways. A prolonged standoff risks undermining business confidence and dragging down capital spending — the investments poured into factories, chips, and servers — even if the impact proves minor.
Tuesday’s key issue: will Europe’s soft data spark a broader tech selloff in New York, or will the dip vanish as cash markets wake up? Volume usually surges back quickly after a U.S. holiday, which often exaggerates those early shifts.
Traders are also looking for more clarity from Washington on timing and scope. Tariff news has been jolting markets in quick bursts, with Nvidia often caught in the crossfire.
Nvidia’s next key milestone is the release of its fourth-quarter fiscal 2026 earnings on Feb. 25. Investors will be watching closely for fresh demand insights and updates on the product cycle. 5
