美股大跌背后，格陵兰岛争端引爆“卖出美国”交易

Core Viewpoint - The article discusses the recent geopolitical tensions surrounding Greenland and its impact on global markets, particularly the U.S. stock market, which experienced significant declines. It highlights the potential for gold to become a safe haven asset amid these uncertainties [4][5][14]. Market Reactions - On January 20, 2026, the S&P 500 index fell by 2.1%, erasing all gains for the year, as geopolitical tensions escalated due to U.S. President Trump's ambitions regarding Greenland [5]. - The VIX, a measure of market volatility, reached its highest level since November of the previous year, while U.S. long-term Treasury yields rose to a four-month high [5]. - The dollar weakened against most major currencies, and Bitcoin saw a significant drop, while gold prices hit a historical high, surpassing $4,700 [5][10]. U.S. Trade Policy and Its Implications - President Trump announced a 10% tariff on imports from eight European countries, which could lead to a 0.1% to 0.2% decline in the actual GDP of the affected nations [7]. - This move has prompted global investors to consider reducing their exposure to U.S. assets, reflecting a "Sell America" sentiment [7][8]. - Goldman Sachs does not anticipate a broad beta adjustment in the U.S. market but expects a continued rotation trend, favoring AI-enabled and productivity-enhancing stocks over software stocks [8]. Gold as a Safe Haven - Global macro fund managers suggest that gold is the only asset that will benefit in the short term, potentially accelerating the process of de-dollarization [9]. - Analysts predict that gold could surpass $5,000 in 2026, driven by geopolitical tensions and the potential for a rebalancing of dollar assets [10]. - The geopolitical significance of Greenland, with its rich mineral resources, is seen as a strategic asset for the U.S. in breaking China's rare earth monopoly [10][11]. European Response to U.S. Tariffs - The European Union is preparing to respond to Trump's tariffs, with potential measures including suspending the EU-U.S. trade agreement and imposing counter-tariffs on U.S. goods [15]. - The EU's response is expected to be gradual, allowing for negotiation time, with initial steps likely to include suspending the trade agreement before implementing countermeasures [15].