Nasdaq 100 and S&P500: US Stock Index Futures Plunge on Greenland Tariff Crisis

• E-mini Nasdaq-100 futures dropped 403 points to 25,286, breaking below key support levels including the 50-day moving average and erasing all year-to-date gains
• E-mini S&P 500 futures fell 79.25 points to 6,897.50, gapping lower through trend line support and testing the 50-day moving average at 6,892.07
• European finance officials, including France's Roland Lescure, indicated the EU 'must be prepared' to use anti-coercion mechanisms and retaliatory tariffs against the U.S.

Market Summary: US Stock Futures Plunge on Greenland Tariff Threats

Key Development:

U.S. stock index futures experienced sharp declines Monday, January 19, 2026, after President Trump threatened to impose 25% tariffs on eight European nations opposing the U.S. purchase of Greenland. Cash equity markets were closed for Martin Luther King Jr. Day.

Market Performance:

• E-mini Dow Futures: 49,107 (-440 points, -0.89%)
• E-mini S&P 500: 6,897.50 (-79.25 points, -1.14%)
• E-mini Nasdaq-100: 25,286.00 (-403 points, -1.57%)

Critical Technical Breaks:

The S&P 500 futures gapped lower through trend line support at 6,981.50 and tested the 50-day moving average at 6,892.07. The Nasdaq-100 broke below multiple support levels, including the 50-day moving average (25,575.10) and a key 50% level (25,411.75), erasing all 2026 gains.

Geopolitical Response:

European nations are preparing retaliatory measures. French Finance Minister Roland Lescure stated the EU "must be prepared" to use its anti-coercion mechanism. Concerns center on whether the conflict will remain a "classic" trade war or escalate further.

Market Implications:

Heightened uncertainty has triggered a "sell-first" mentality among investors, with concerns about U.S.-Europe trade war impacts on growth and demand. Thinner trading conditions due to the holiday may exacerbate volatility.

Upcoming Catalysts:

Trump and world leaders will attend the World Economic Forum in Davos, Switzerland this week, providing an opportunity to discuss the Greenland situation. Trump is scheduled to address the forum Wednesday.