New York, January 20, 2026, 10:18 EST — Regular session
- The Dow dropped roughly 1.2% in morning trading after new tariff news linked to Greenland surfaced.
- 3M dropped following a profit forecast for 2026 that came in below expectations; banks also edged lower amid ongoing credit-card policy doubts.
- Netflix is set to report after the close, with investors gearing up for this week’s U.S. GDP and PCE inflation numbers.
The Dow Jones Industrial Average dropped over 600 points Tuesday, deepening a global risk-off trend sparked by U.S. President Donald Trump’s threat to impose new tariffs on multiple European nations amid the Greenland dispute. At 9:39 a.m. ET, the Dow slid 603.23 points, or 1.23%, to 48,752.19. Reuters
The decline came as U.S. traders came back from a holiday-shortened weekend facing higher bond yields and a rush into safe assets. The 10-year Treasury yield climbed about six basis points — each basis point equals 0.01 percentage point — reaching near 4.29%. At the same time, gold and silver futures hit new highs, Investopedia reported. Investopedia
Trump announced over the weekend that the U.S. plans to slap a 10% import tariff starting in February on goods from eight NATO countries, AP reported. European leaders quickly condemned the move, triggering a selloff in European markets. “Geopolitical events will remain in focus today,” said Michael Brown, senior research strategist at Pepperstone. Wedbush Securities analyst Dan Ives described the new threat as “clearly an overhang,” but added it will likely “simmer over time.” Treasury Secretary Scott Bessent called on trading partners to “take a deep breath.” AP News
3M dragged the Dow down after the industrial giant forecast adjusted earnings of $8.50 to $8.70 per share for 2026, with the midpoint just under analysts’ estimates, according to a Reuters report. CEO Bill Brown said in a statement, “Our accelerated pace of innovation and commercial execution positions us to outperform the macro environment again in 2026.” Reuters
Financial stocks slipped as investors mulled the Trump administration’s push to cap credit-card interest rates at 10% by a same-day deadline, Reuters reported. Major lenders dropped roughly 1% to 2% in morning trading. Banks have cautioned that the cap might restrict credit access and trigger legal battles. Reuters
Rates-sensitive assets face fresh political news. Treasury Secretary Bessent told Reuters that Trump could name the next Federal Reserve chair “as early as next week,” with four finalists still in the running. Reuters
The tariff saga has a legal clock ticking as well. U.S. Trade Representative Jamieson Greer told the New York Times, cited by Reuters, that the administration is ready to swiftly impose new tariffs if the Supreme Court overturns Trump’s broad global tariffs. The ruling could drop within weeks, maybe as soon as Tuesday. Reuters
Netflix grabbed attention ahead of its earnings after the bell. The streamer shifted to an all-cash bid for Warner Bros Discovery’s studio and streaming units, keeping the $82.7 billion price unchanged. Co-CEO Ted Sarandos said this move should accelerate shareholder approval and “provide greater financial certainty,” according to Reuters. Reuters
The day’s tape might hinge on whether the tariff threat moves past mere headlines. If Washington and European capitals shift toward talks, the initial market reaction could lose steam. But if retaliation talk turns real and yields climb, the Dow’s usual defensive appeal could fail to materialize.
Investors are set to dig into Friday’s flash U.S. PMIs, early indicators of factory and services sector activity for January. CME Group
Thursday kicks off with a packed macro slate: the Bureau of Economic Analysis will release its revised third-quarter 2025 GDP estimate at 8:30 a.m. EST, followed by the Personal Income and Outlays report at 10:00 a.m., featuring the Fed’s closely monitored PCE price index. Bureau of Economic Analysis
