European Markets Slide on Trump’s Greenland-Linked Tariff Threat; Crypto Assets Hold Steady
Former President Donald Trump's announcement of 10% tariffs on EU goods—linked to Greenland territorial disputes—triggered a broad selloff in European equities at Monday's open. The Euro Stoxx 50 fell 1.7% while Germany’s DAX dropped 1.3%, reflecting heightened geopolitical risk premiums.
Notably, cryptocurrency markets showed resilience amid the fiat market turmoil. Bitcoin (BTC) and ethereum (ETH) held key support levels, with traders interpreting the tariffs as potential macro tailwinds for decentralized assets. Stablecoin volumes spiked 18% on European exchanges as capital sought neutral settlement layers.
The EU's proposed $108B counter-tariff package could accelerate institutional adoption of crypto hedging strategies. Goldman Sachs estimates a 0.2% GDP drag across affected nations—precisely the economic friction that historically correlates with increased blockchain liquidity flows.
