Market Recap: Major Indices Plunge Amid Trump's Greenland Tariff Threats; Gold Hits Record $4,767.6 as Safe-Haven Demand Surges

The U.S. market faced a brutal session on January 20, 2026, as President Trump’s escalating trade threats over Greenland triggered a broad selloff. The Dow Jones Industrial Average (DJI) fell 1.76% to $48,488.59, the S&P 500 (SPX) dropped 2.06% to $6,796.86, and the Nasdaq Composite (IXIC) slumped 2.39% to $22,954.32. Commodities saw mixed action: gold surged 3.75% to $4,767.6, silver jumped 6.63% to $94.41, while WTI crude edged up 0.287% to $59.51. Sector-wise, materials (+1.17%) and consumer staples (+0.12%) bucked the trend, while tech (-2.86%) and industrials (-2.18%) led the declines. Market sentiment turned sharply bearish amid fears of a U.S.-EU trade war and geopolitical instability.

Hot Stocks

Tech Giants:

• Microsoft (MSFT): -1.16%
• Alphabet (GOOG): -2.48%
• Meta (META): -2.60%
• Amazon (AMZN): -3.40%
• Apple (AAPL): -3.46%
• Tesla (TSLA): -4.17%
• Nvidia (NVDA): -4.38%

Gold Miners:

• Kinross Gold (KGC): +8.62%
• Anglogold Ashanti (AU): +7.89%
• Gold Fields (GFI): +7.04%
• Hecla Mining (HL): +6.41%
• Pan American Silver (PAAS): +6.20%
• Agnico Eagle Mines (AEM): +5.88%
• Albemarle (ALB): +5.83%

Other Movers:

• NetClass Technology (NTCL): +38.06%
• INVO Fertility (IVF): +191.73%
• Corvus (CRVS): +165.96%
• Aclaris Therapeutics (ACRS): +69.08%
• Sow Good (SOWG): -12.61%
• GridAI Technologies (GRDX): -16.33%

Analysts Opinions

Analysts highlighted a market rotation from tech to small-cap and non-tech sectors, driven by Trump’s geopolitical rhetoric and macroeconomic factors. Michael Arone of State Street noted that small-cap earnings growth, fueled by lower interest rates and the One Big Beautiful Bill Act, is narrowing the gap with tech giants. While tech faces a post-2025 AI boom correction, real assets like gold and metals are surging. Arone warned that Trump’s trade policies and the EU’s retaliatory measures could prolong volatility, but a resilient U.S. economy and fiscal stimulus might sustain the rotation. The financial sector’s mixed performance, with banks rebounding after strong earnings, suggests a potential short-term rebound.

Macro & Corporate & Global Narrative

1. Trump’s Greenland Tariff Threats Spark Market Panic

The U.S. market faced a brutal session on January 20, 2026, as President Trump’s escalating trade threats over Greenland triggered a broad selloff. The Dow Jones Industrial Average (DJI) fell 1.76% to $48,488.59, the S&P 500 (SPX) dropped 2.06% to $6,796.86, and the Nasdaq Composite (IXIC) slumped 2.39% to $22,954.32. Commodities saw mixed action: gold surged 3.75% to $4,767.6, silver jumped 6.63% to $94.41, while WTI crude edged up 0.287% to $59.51. Sector-wise, materials (+1.17%) and consumer staples (+0.12%) bucked the trend, while tech (-2.86%) and industrials (-2.18%) led the declines. Market sentiment turned sharply bearish amid fears of a U.S.-EU trade war and geopolitical instability.

2. Gold and Silver Surge to Records Amid 'Sell America' Trade

Gold hit $4,767.6/oz, up 3.75%, while silver surged 6.63% to $94.41. The dollar index fell nearly 1%, and Treasury yields rose to 4.293%, reflecting waning confidence in U.S. assets. Analysts warned that geopolitical tensions could disrupt global supply chains and economic stability.

3. Netflix’s All-Cash Bid for Warner Bros. Adds Tech Sector Volatility

Netflix revised its $83 billion all-cash offer for Warner Bros. Discovery, but tech stocks like Nvidia and Apple fell as investors rotated out of AI-linked equities. The deal faces regulatory hurdles and competition from Paramount, adding uncertainty to the sector.

4. Amazon CEO Warns Tariffs Are Bumping Up Prices

Amazon CEO Andy Jassy confirmed that Trump’s tariffs are starting to raise product prices as sellers pass on costs. This aligns with broader concerns about inflation and consumer spending resilience amid trade tensions.

5. Fed Chair Nomination Timeline Uncertain

Trump’s delayed announcement of his next Fed chair pick, with Kevin Hassett as a frontrunner, raised concerns about potential political interference. The Supreme Court’s pending IEEPA ruling could further complicate Trump’s tariff strategy.

6. Danish Pension Fund Sells U.S. Debt Amid Tensions

A Danish pension fund, AkademikerPension, sold $100 million in U.S. Treasuries, citing risks to U.S. fiscal sustainability. This move reflects growing global skepticism about America’s economic stability amid Trump’s aggressive trade policies.