Asia-Pacific markets set for lower open, tracking Wall Street losses after Trump escalates Greenland tariff rhetoric

Market Overview - Hong Kong's Hang Seng index futures are at 26,341, below the last close of 26,487.51, indicating a decline in market sentiment [1] - Asia-Pacific markets fell, reflecting losses on Wall Street due to escalating tensions from President Trump's tariff threats [1] U.S. Tariff Threats - President Trump announced that exports from eight European countries would face a 10% tariff starting February 1, increasing to 25% by June 1 if negotiations fail regarding Greenland [2] - Trump threatened a 200% tariff on French wine and champagne, criticizing President Macron's refusal to join his proposed "Board of Peace" [3] International Reactions - European leaders have deemed Trump's tariff threats "unacceptable" and are considering retaliatory measures, with France advocating for the EU to use the Anti-Coercion Instrument [4] - U.S. stock futures saw a slight rise after a significant drop in major averages, which experienced their worst day in three months [4] U.S. Market Performance - The Dow Jones Industrial Average fell by 870.74 points, or 1.76%, closing at 48,488.59, while the S&P 500 and Nasdaq Composite also saw declines of 2.06% and 2.39%, respectively [5] - This marked the worst session for all three major U.S. indices since October, with U.S. Treasury yields spiking and the dollar declining as investors moved away from U.S. assets [5]