GoAI Market Wrap - 21st Jan

Stock Market

U.S. major indices closed sharply lower Tuesday Eastern Time as President Trump’s renewed insistence on controlling Greenland—backed by tariff threats—reignited global trade war fears, with the Nasdaq leading the decline, falling over 2%.

 

At close:Dow Jones −1.76% to 48,488.59, S&P 500 −2.06% to 6,796.86, Nasdaq −2.39% to 22,954.32  

 

Tuesday’s sell-off pushed the S&P 500 and Nasdaq into negative territory for 2026: S&P 500 down 0.7% YTD, Nasdaq down 1.2% YTD.

 

On Saturday, Trump posted on Truth Social that he will impose tiered tariffs on imports from eight European countries (all NATO members) until a “full acquisition” of Greenland is agreed. Tariffs start at 10% on February 1 and rise to 25% on June 1.

 

This week, Trump also threatened 200% tariffs on French wine and champagne amid reports that French President Macron is unwilling to join his proposed “peace committee.”

 

European leaders called Trump’s latest tariff threats “unacceptable,” with France reportedly pushing the EU to deploy its strongest economic countermeasure: the Anti-Coercion Instrument.

 

Bridgewater founder Ray Dalio told media at Davos: “On the other side of trade deficits and trade wars is capital—and capital wars. If you consider these conflicts, you can’t ignore the possibility of a capital war. In other words, people may no longer be as willing to buy U.S. debt and other assets as before.”

Global Hotspots

Trump: If Supreme Court Limits Federal Tariff Powers, Other Tools Remain  

 

President Trump told reporters that if the Supreme Court rules against his tariff authority, he “can use other ways,” such as licensing regimes. He stressed the current approach is “the best, strongest, fastest, simplest, and least complicated,” but not the only option.

 

European Parliament Freezes Approval of U.S.-EU Trade Deal  

 

The European Parliament announced Tuesday local time it is freezing approval of a trade agreement reached with the U.S. last July—the first formal EU response to Trump’s latest pressure tactics.

Company News

Netflix Sweetens Warner Bros. Discovery Bid to All-Cash $72 Billion  

 

To boost appeal to Warner Bros. Discovery shareholders, Netflix revised its acquisition offer to all-cash, moving away from the previous cash-plus-stock structure agreed with Warner’s board.  

 

Last December, Netflix and Warner reached a deal valuing Warner at $27.75 per share ($82.7 billion enterprise value, $72 billion equity).  

 

Tuesday, Netflix and Warner said they are amending the structure to simplify terms, provide more certainty to shareholders, and accelerate the path to a shareholder vote—potentially as early as April.  

 

The all-cash offer still values Warner at $27.75 per share. Netflix said it will fund the deal with cash, debt, and committed financing.

 

Netflix Q1 Guidance Misses Expectations  

 

Netflix Q4 revenue $12.05 billion (vs $11.97 billion est.); adjusted EPS $0.56 (vs $0.43 last year); free cash flow $1.87 billion (vs $1.46 billion est.).  

 

2026 revenue guidance $50.7–51.7 billion (vs $50.96 billion est.); Q1 operating profit $3.91 billion (vs $4.18 billion est.); Q1 EPS $0.76 (vs $0.82 est.).  

 

Netflix shares fell over 5% after-hours.

 

United Airlines Q4 Adjusted EPS $3.10  

 

United Airlines Q4 operating revenue $15.4 billion (vs $15.37 billion est.); adjusted EPS $3.10 (vs $2.92 est.). United shares rose over 3% after-hours.

 

Goldman Sachs & Qatar Investment Authority Plan $25 Billion Partnership  

 

Reports say Goldman Sachs and Qatar Investment Authority are planning a $25 billion private markets investment partnership.

 

OpenAI & ServiceNow Strike AI Model Integration Deal  

 

Reports say OpenAI signed a three-year agreement with cloud and service management provider ServiceNow to integrate its AI models into the latter’s business software.

Forex & Commodities  

WTI February crude futures settled at $60.34/barrel, +1.51%; Brent March crude futures settled at $64.92/barrel, +1.53%.  

 

COMEX gold futures +3.78% to $4,769.1/oz; COMEX silver futures +6.69% to $94.46/oz.

Key Events  

Dalio: Trump Risks Sparking “Capital War,” Overseas Funds Reassessing U.S. Assets  

 

Bridgewater founder Ray Dalio warned at Davos that foreign governments and investors are reassessing U.S. asset allocations amid rising unease and economic tension. Dalio said Trump’s aggressive political stance could usher in a new phase of global financial conflict.

Cryptocurrency (24h change)  

Bitcoin −4.09% to $88,766.51.

  

Ethereum −7.30% to $2,953.21.  

 

XRP −3.90%, BNB −5.57%, Solana −5.07%, Dogecoin −3.27%, Cardano −3.54%.

Crypto Key Event  

Strategy Continues Heavy Bitcoin Buying, Holdings Near 710,000 BTC  

 

On January 20, Bitcoin whale Strategy announced it purchased 22,305 BTC between January 12–19, 2026, for $2.1253 billion at an average price of $95,284.

 

As of January 19, Strategy holds 709,715 BTC, acquired for $53.92 billion at an average price of $75,979.