Pre-Market Report – Wednesday 21 January: US markets stumble on Greenland and JGBs | Gold and silver hit records

It was a difficult night for US stocks with the SP500 down 2% and the Nasdaq down 2.4%. The VIX index hit 20, a 26% rise and gold topped US$4700. President Trump’s aggressive stance against the EU over Greenland plus weakness in Japanese bonds are pressuring the market. Reuters quotes the President as saying, “There is no going back”, when it comes to US control of Greenland. He’s also using the threat of tariffs to bend the EU to his will. They will go into effect on February 1 under the current timeline.

SPI Futures down 50 points. ASX set to open lower. Gold and silver hit records - RIO and EVN quarterly.

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