Yesterday, Donald Trump did an impromptu press conference in the White House briefing room to mark his first year in office (in his second nonconsecutive term). The press conference was particularly unhinged, at least that’s what Beltway reporters said, because Beltway reporters wake up every morning with no memory of what Trump has been like for the past decade. “This has stopped being funny,” they cry. No, it was never funny, you’re just a terrible journalist. Trump’s 2026 has been so stupid, evil and disgusting that as soon as he waddled up to the podium, the stock market plunged. Of course, most of the Trump Economic Collapse is because of all of his warmongering, tariffs and insanity, which has caused a huge sell-off of American debt in Europe:
The “sell America” trade is in full swing Tuesday morning after President Donald Trump and European leaders escalated tensions over Greenland. U.S. bond prices tumbled, sending yields spiking. The U.S. Dollar Index, which weighs the greenback against a basket of six foreign currencies, fell nearly 1%. The euro jumped 0.6% against the dollar.
“This is ‘sell America’ again within a much broader global risk off,” Krishna Guha, head of global policy and central banking strategy at Evercore ISI, wrote in a note to clients.
Precious metals, gold and silver marched to fresh highs. Gold, which has long been viewed as a safe-haven investment during periods of geopolitical turmoil, was on track for its biggest one-day gain since 2020.
U.S. stocks tumbled as investors mitigated exposure to American assets. The Dow Jones Industrial Average slid more than 800 points, while the S&P 500 and Nasdaq Composite each dropped more than 2%. The Cboe Volatility Index (VIX), known Wall Street’s “fear gauge,” spiked to a highs last seen in November.
The latest flare-up in so-called sell America positioning follows Trump’s threats to impose 10% tariffs on eight European countries as part of his push to take over Greenland. Representatives from the 27-nation European Union gathered for an emergency meeting in response to Trump’s tariff call, which he said would start Feb. 1 and then rise to 25% on June 1.
There’s a real danger that the dollar could collapse and there’s a real danger that no country, especially in Europe, will continue to buy American debt. That’s the cost of Trump’s Greenland hyperfixation, not just in the loss of historic NATO alliances, but to the American, European and global economies.
Soon after Trump sh-t the bed at the White House podium, he staggered onto Air Force One to fly to Davos. AF1 made it hundreds of miles over the Atlantic, then turned around and flew back to Andrews. The cover story is that AF1 had a “minor electrical issue.” I do not believe it. The White House traveling press corps didn’t even catch a glimpse of Trump as they switched planes either. Interesting.
CNN: So we have been told by a source that was familiar with what is going on, that air force one did turn around moments ago… this is because of what they are calling a small mechanical issue. They are saying that it is not serious, but that they needed to return back pic.twitter.com/lF1ajygOrq
— Acyn (@Acyn) January 21, 2026
Photos courtesy of Backgrid.
