--- title: "Click here to read our #globalmarkets weekly wrap up" description: US stocks traded sharply lower to start the week on Tuesday, with the S&P 500 Index posting its largest daily decline since October amid renewed fears of a global trade war after President Trump announced that he would impose new tariffs on European nations that opposed the U.S. purchasing or otherwise taking control of Greenland. 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[Global Markets Outlook](https://blog.syzgroup.com/fast-food-for-thought/tag/global-markets-outlook) ### Click here to read our #globalmarkets weekly wrap up US stocks traded sharply lower to start the week on Tuesday, with the S&P 500 Index posting its largest daily decline since October amid renewed fears of a global trade war after President Trump announced that he would impose new tariffs on European nations that opposed the U.S. purchasing or otherwise taking control of Greenland. Stocks reversed course on Wednesday after Trump said that he and NATO Secretary General Rutte had “formed the framework of a future deal with respect to Greenland” and that he would no longer “be imposing the Tariffs that were scheduled to go into effect on February 1st.” [![Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/hubfs/charles-2.jpg)](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau) [**Charles-Henry Monchau, CFA, CMT, CAIA**](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau) Chief Investment Officer **Saturday, 01/24/2026** | Reading time: 1min. - [![Pdf](https://blog.syzgroup.com/hubfs/pdf%20(1).png)](https://blog.syzgroup.com/hubfs/Weekly%20Global%20Letter%20January%2024%202026_v3.pdf?hsLang=en) - - - - --- [PDF](https://blog.syzgroup.com/hubfs/Weekly%20Global%20Letter%20January%2024%202026_v3.pdf?hsLang=en) ---   #### WEEKLY SUMMARY: Stocks and dollar down, gold & silver at record highs US stocks traded sharply lower to start the week on Tuesday, with the S&P 500 Index posting its largest daily decline since October amid renewed fears of a global trade war after President Trump announced that he would impose new tariffs on European nations that opposed the U.S. purchasing or otherwise taking control of Greenland. Stocks reversed course on Wednesday after Trump said that he and NATO Secretary General Rutte had “formed the framework of a future deal with respect to Greenland” and that he would no longer “be imposing the Tariffs that were scheduled to go into effect on February 1st.” On the week, the Dow Jones and S&P 500 Index declined 0.53% and 0.35%, respectively. Meanwhile, the Russell 2000 Index shed 0.32%, while the Nasdaq closed modestly lower. On the economic data front, Q3 US GDP growth was revised higher (+4.4% vs. +4.3%). November core PCE price index rose 0.2% from the prior month, in line with October’s reading. Meanwhile, University of Michigan consumer sentiment improved. U.S. Treasuries short-term yields edged higher while longer-term yields declined slightly. The STOXX Europe 600 Index ended 0.98% lower amid renewed trade and geopolitical uncertainty. In Japan, the TOPIX index ended down 0.79% while the BoJ left interest rates unchanged, as expected and PM Takaichi announced on Monday an early parliamentary election on February 8. The Dollar Index tumbled to its weakest since August while Silver hit $102/oz and Gold hit nearly $5,000/oz.   Have a great week-end   Charles & Syz Research Lab   #### Disclaimer This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. Read More ## Related Articles [Global Markets Outlook](https://blog.syzgroup.com/fast-food-for-thought/tag/global-markets-outlook) #### [Click here to read our #globalmarkets weekly wrap up](https://blog.syzgroup.com/fast-food-for-thought/click-here-to-read-our-globalmarkets-weekly-wrap-up-1792221950611?hsLang=en) US inflation accelerated to 3.7% in September as energy costs jumped, up from 3.4% for two months, with core CPI at 2.6% year on year versus 2.5% expected. Producer prices posted their biggest rise in 4½ years and retail sales beat expectations. October hike odds spiked, then faded after Mary Daly signalled no need to move at the 27–28 October meeting; markets now see a 91% chance of a December hike. On the geopolitical side, attacks around the Strait of Hormuz surged, with Iran stepping up strikes in response to the US blockade of its ports. Ukraine hit a Russian refinery after Kyiv abandoned the Trump-brokered energy ceasefire. Brent tested $110 and WTI traded at $101. Oil eased but recorded a small weekly gain amid Mideast supply focus. In equity markets, AI financing fears hit tech. CoreWeave’s slump triggered a global rout in AI stocks. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 17/10/2026 ## Straight from the Desk # Syz the moment Live feeds, charts, breaking stories, all day long. [Discover more](https://blog.syzgroup.com/syz-the-moment?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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