US Stocks Surge as Trump Halts Greenland Tariffs, Market Recovers Losses
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CNBC TV18•22-01-2026, 23:21
US Stocks Surge as Trump Halts Greenland Tariffs, Market Recovers Losses
- •US stock markets, including the S&P 500, Dow Jones, and Nasdaq, climbed significantly on Thursday, January 22, recovering losses from earlier in the week.
- •The rally followed President Trump's decision to call off 10% tariffs on European countries after reaching a "framework of a future deal with respect to Greenland."
- •This marks another instance of Trump threatening tariffs and then pulling back when financial markets react negatively, a pattern dubbed "TACO" (Trump Always Chickens Out).
- •Despite market recovery, some nervousness persisted, with gold prices rising and the US dollar slipping against other currencies.
- •Strong corporate earnings from Northern Trust and Procter & Gamble, along with positive US economic reports, also contributed to the market's gains.
Why It Matters: US stocks rebounded sharply after Trump reversed his tariff threat over Greenland, showcasing market influence on policy.
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