"After a brief sell-off in the run-up to Donald Trump's speech to global leaders at the World Economic Forum in Davos, Switzerland on Wednesday, markets are up, after the president backed off earlier claims and ruled out using force to acquire Greenland. The Dow Jones Industrial Average was up 451 points, or about 1%, and the S&P 500 was up 67 points, also about 1%, in midday trading at the time of this writing. The Nasdaq was up about 0.7%."
""We never asked for anything, and we never got anything . . . We probably won't get anything unless I decide to use excessive strength and force, where we would be, frankly, unstoppable." "But I won't do that. Okay?" Trump continued. "Now everyone's saying, 'Oh, good.' That's probably the biggest statement I made, because people thought I would use force. I don't have to use force. I don't want to use force. I won't use force.""
U.S. equity markets recovered after an early sell-off as President Trump publicly ruled out using military force in any attempt to acquire Greenland, while reiterating interest in negotiations. The Dow rose about 1%, the S&P 500 about 1%, and the Nasdaq roughly 0.7% in midday trading. Trump had warned of using "excessive strength and force" but then said he would not do so, a statement that eased investor concerns. He also threatened tariffs on several European allies over their opposition, noted European holdings of U.S. assets, and influenced Treasury yields and the dollar.
Read at Fast Company
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