BANGKOK (AP) — European shares mostly fell and U.S. stock futures skidded Monday after U.S. President Donald Trump threatened to slap a 10% extra tariff on imports from eight European countries because they oppose having America take control of Greenland.
Germany’s DAX lost 1.3% to close at 24,960.33 and the CAC 40 in Paris fell 1.9% to 8,101.96. Britain’s FTSE 100 declined 0.4% to 10,190.26.
Among U.S stock futures, the S&P 500 was down 1% as of 11:48 a.m. Eastern Time, while the Dow Jones Industrial Average was down 0.8% and the Nasdaq composite was down 1.2%. U.S. stock markets are closed Monday in observance of Martin Luther King Jr. Day.
Trump said Saturday that he would charge a 10% import tax starting in February on goods from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland because of their opposition to American control of Greenland.
The European countries targeted by Trump blasted his threat to raise tariffs, saying they “undermine transatlantic relations and risk a dangerous downward spiral.” The unusually strong joint statement was the most forceful rebuke from the European allies since Trump returned to the White House almost a year ago.