America News Agency

Spot gold prices rose by more than 1% to reach an all-time high of $4,813 per ounce.

Hong Kong’s Hang Seng Index fell 0.12%, while mainland China’s CSI 300 Index gained 0.11%.

Japan’s Nikkei 225 dropped 1.28% and the Topix fell 1.09%. South Korea’s Kospi slid 1.09%, while the small-cap Kosdaq plunged 2.2%.

Australia’s S&P/ASX 200 declined 0.34%.

Trump said on Saturday that exports from eight European countries would be subject to a 10% tariff from February 1, adding that the rate would rise to 25% by June 1 if talks fail to allow the U.S. to take control of mineral-rich Greenland.

European leaders reportedly described President Donald Trump’s latest tariff threats as “unacceptable” and are considering retaliatory measures. France is said to have urged the European Union to deploy its strongest economic response tool, the Anti-Coercion Instrument.

U.S. stock futures edged higher in early Asian trading after the major indexes suffered their worst day in the past three months.

Overnight in the United States, the Dow Jones Industrial Average fell 870.74 points, or 1.76%, to close at 48,488.59.

The S&P 500 dropped 2.06% to end at 6,796.86.

The Nasdaq Composite slid 2.39% to close at 22,954.32.

This marked the worst session since October for all three major indexes. Trump’s threat triggered a flight from U.S. assets, pushing U.S. Treasury yields higher and the U.S. dollar lower.