🚨 US100 drops 1.5%, erasing this year’s gains amid trade war fears 📉

Nasdaq 100 (US100) futures are down more than 1.5% today, slipping below the levels seen at the January 2, 2026 session open and wiping out all year-to-date gains. US cash equity trading will be closed today due to a national holiday, but markets have clearly reacted sharply to weekend headlines.

Donald Trump announced 10% tariffs on major EU economies and the UK (reportedly set to take effect on February 1) and threatened to raise the rate to 25% if a Greenland purchase agreement is not finalized. Investors are viewing the move as excessive: the dollar weakened instead of strengthening, and overall risk sentiment has deteriorated. A potential escalation in Washington–Brussels relations could also have meaningful consequences for US tech firms operating in Europe.
Germany’s cash DAX is down more than 1.2%. The US100 drop is particularly concerning given that recent record results from TSMC and the semiconductor euphoria failed to push the index to fresh highs. For months, software stocks have also been under pressure, with declines stretching from Salesforce to ServiceNow. Meta Platforms and Microsoft have also been lagging. If the tariff theme stays on the agenda, a deeper correction in US equities becomes more likely. At the same time, it appears unrealistic for a Greenland deal to be finalized before February 1.

Source: xStation5

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