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Shopify Shares Drop 7% Amid Greenland Tariff Concerns, Tech Stocks Retreat

Shopify Shares Drop 7% Amid Greenland Tariff Concerns, Tech Stocks Retreat

Author:

Global Cryptocurrency

Published:

2026-01-21 10:12:02

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BTCCSquare news:

Shopify Inc (NASDAQ: SHOP) tumbled 7.26% to $144.50 as renewed U.S.-Europe trade tensions rattled markets. The e-commerce platform's decline mirrored broader weakness in high-growth tech stocks after former President TRUMP threatened tariffs targeting Greenland.

Retail and tech sectors faced heightened volatility as investors weighed potential supply chain disruptions. Shopify's legal victory overturning a $40 million patent verdict provided some offset, while its Google AI partnership underscored long-term growth prospects.

Market participants now await the EU's Thursday meeting in Brussels, where officials will formulate a response to the escalating trade dispute. Analysts caution that prolonged tensions could pressure merchant costs and consumer demand.

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