European stocks sink, gold hits high on escalating tariff fears
Summary
European stocks fell and precious metals like gold and silver hit record highs amid escalating fears of a US-EU trade war triggered by Donald Trump's tariff threats over Greenland. Major European markets including Frankfurt, London, and Paris saw significant declines.
Key Points
- European stock markets declined amid mounting fears of a US-EU trade war caused by tariff threats.
- Gold and silver prices reached new record highs, viewed as safe-haven assets.
- US President Donald Trump announced tariffs on eight countries including EU nations starting February 1, escalating tensions.
- EU leaders including Ursula von der Leyen warned that imposing tariffs on allied countries would be a mistake.
