US stocks, crypto creep up as Trump calls off Greenland-linked tariffs
Ciaran Lyons
Written by Ciaran Lyons,
Staff Writer
Felix Ng
Reviewed by Felix Ng,
Staff Editor
US stocks, crypto creep up as Trump calls off Greenland-linked tariffs
3 hours ago
The S&P 500 climbed, crypto stocks were mixed and Bitcoin and Ether posted modest gains on Wednesday after Donald Trump called off his recent tariff threat.
US stocks, crypto creep up as Trump calls off Greenland-linked tariffsNews
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US stocks and the crypto market showed signs of life on Wednesday after US President Donald Trump stood down on tariffs tied to his efforts to claim Greenland
The S&P 500 closed the trading day up 1.16% on Wednesday, hours after Trump said on Truth Social that he had held a “very productive meeting” with NATO Secretary General Mark Rutte and would not be moving forward with tariffs scheduled for Feb. 1. #TrumpCancelsEUTariffThreat #TrumpTariffsOnEurope
The tariffs had targeted eight European countries, including Denmark, Norway, Sweden, the United Kingdom, France, Germany, the Netherlands and Finland.
“We have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region. This solution, if consummated, will be a great one for the United States of America, and all NATO Nations,” Trump said.
Crypto stocks mixed, major coins edge higher
Crypto-linked stocks had a mixed reaction after the announcement, with Michael Saylor’s Strategy (MSTR) closing the trading day up 2.23%, while the share price of crypto exchange Coinbase (COIN) slipped 0.35%, according to Google Finance.
Crypto mining stocks were similarly uneven, with Riot Platforms down 4.70% and Mara Holdings (MARA) up 1.83%.
Cryptocurrencies, Ethereum, United States, Donald Trump, Stock Exchange
Bitcoin is up 1% over the past 24 hours. Source.
