Top officials from Greenland, Denmark, and the U.S. convened at the White House on Wednesday to discuss Washington’s controversial bid to assert control over Greenland.
The meeting concluded without a deal, highlighting what Danish Foreign Minister Lars Lokke Rasmussen described as a “fundamental disagreement” between President Donald Trump and Copenhagen.
Greenland had already indicated that it would “choose Denmark,” while Trump made it clear that anything less than U.S. control of the island is “unacceptable.”
Experts warn that tensions could have severe consequences. Iceland’s former President Olafur Ragnar Grimsson told CNBC that a potential armed conflict over Greenland could trigger “monumental consequences” for the Western alliance and global order.
On another front, Trump signaled a more flexible approach toward Iran. The president suggested he might refrain from military action, noting, “we’ve been told that the killing in Iran is stopping.”
Despite this, a temporary closure of Iranian airspace for five hours on Thursday caused a brief scare in the U.S. markets.
Following Trump’s comments, oil prices dropped roughly 1.5% during Wednesday trading. Meanwhile, gold and silver continue to climb, fueled by geopolitical uncertainty and Trump’s critique of the Federal Reserve’s independence. Silver has surged 26.6% in the first two weeks of 2026.
U.S. stock markets declined Wednesday, with chip stocks particularly dragging indexes down. Taiwan Semiconductor Manufacturing Co. reported a 35% rise in fourth-quarter profit, beating expectations, signaling robust demand for AI semiconductors.
Investors now face a delicate balance between hedging against geopolitical risks and capitalizing on AI-driven tech growth.
Key Market Movements
The U.S. government froze new immigrant visas for 75 countries, claiming immigrants from these nations “take welfare from the American people at unacceptable rates.”
Toyota Industries reached a record high as shares jumped almost 6% to 19,080 yen ($120.41), following Toyota Motor’s decision to raise its tender offer for the carmaker above $35 billion.
China opened an antitrust probe into Trip.com over “suspected abuse of its dominant market position,” causing shares to plummet nearly 22%.
In Asia, markets mostly fell Thursday, though South Korea’s Kospi climbed around 1.6% to a record high after its central bank kept interest rates unchanged.
China’s AI Chip Market
China’s AI chip sector has seen a surge in investor interest due to successful IPOs, but analysts note that these newly listed firms are not leading the country’s efforts to reduce dependence on Nvidia.
Huawei, through its secretive HiSilicon unit, remains the standout player domestically. Its technological prowess, scale, and supply chain depth set it apart, though the company is not expected to go public.
