Stock markets fall and gold rises amid US-Greenland trade dispute

Stock markets in Europe and the US dropped after President Donald Trump escalated a trade dispute with Greenland. The Milan stock exchange in Italy closed down 1.32%, losing €14.4 billion in value, while US stock futures also fell.

Investors moved money into assets considered safer during times of uncertainty. This pushed the prices of gold and silver to new record highs. The price of oil steadied as concerns shifted from other global issues to the Greenland situation.