The S&P 500 and Nasdaq also settled sharply lower
Stocks fell sharply on Tuesday, as President Trump escalated tariff threats in relation to disagreements over the sale of Greenland. The Dow shed 870 points, marking its worst session since October alongside the S&P 500 and Nasdaq, as Treasury yields soared and the U.S. dollar tumbled. Retaliation fears weighed heavily on sentiment, with the Cboe Volatility Index (VIX) -- known as Wall Street's "fear gauge" -- enjoying a third-straight gain to settle above 20 for the first time since November.
Continue reading for more on today's market, including:
- 2 rare earth stocks to keep on your radar.
- Copper stock gearing up for earnings call.
- Plus, MMM's fourth-quarter report; behind LULU' tumble; and more on Novavax's licensing agreement.
5 Things to Know Today
- President Trump is expected to meet with global leaders at the World Economic Forum in Davos to discuss U.S. policies amid rising geopolitical tensions. (Reuters)
- The Trump administration is preparing to almost immediately replace tariffs with other levies if the Supreme Court strikes them down. (The New York Times)
- Blue-chip stock falters after disappointing 2026 forecast.
- An ongoing proxy battle weighed on LULU stock.
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Why option bulls charged toward Novavax stock.
Gold Nabs Another Record High
Oil prices were higher on Tuesday as upbeat economic growth data out of China lifted hopes for stronger global growth and increased fuel demand. Kazakh supply disruptions also pushed black gold higher. Front-month West Texas Intermediate (WTI) crude gained 90 cents, or 1.5%, to settle at $60.34.
On a similar note, gold prices snapped up a record high as geopolitical tensions intensified, driving safe-haven demand. February-dated gold futures rose 3.3% to $4,747.60 per ounce.