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Stocks slumped on Wall Street Tuesday after President Donald Trump threatened to hit eight European countries with new tariffs as tensions escalate over his attempts to assert American control over Greenland. The losses were widespread, with nearly every sector losing ground. Major indexes in the U.S. extended losses from last week in what has been a wobbly start to the year. The S&P 500 fell 143.15 points, or 2.1%, to 6,796.86. It is the steepest drop for the benchmark index since October. The Dow Jones Industrial Average fell 870.74 points, or 1.8%, to 48,488.59. The Nasdaq composite fell 561.07 points, or 2.4%, to 22,954.32. Technology stocks were the heaviest weights on the market. Nvidia, one of the most valuable companies in the world, plunged 4.4%. Apple fell 3.5%. Retailers, banks and industrial companies also fell sharply. Lowe’s fell 3.3%, JPMorgan Chase fell 3.1%, and Caterpillar lost 2.5%. European markets and markets in Asia fell. Long-term bond yields in Japan rose to record levels on concerns over the government’s fiscal policy, adding to anxiety in global markets. Trump’s trade policy has roiled markets since the start of his second term. Stocks have sold off on the threat of steep tariffs, then rallied when Trump delays or cancels a tariff, or negotiates a lower rate. Trump said Saturday that he would charge a 10% import tax starting in February on goods from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland. The annual combined imports from European Union nations are greater than those from the top two biggest individual importers into the U.S., Mexico and China. Gold prices surged 3.7% and silver prices soared 6.9%. Such assets are often considered safe havens in times of geopolitical turmoil. The trade tensions apparently short-circuited a recent rally in bitcoin. The cryptocurrency rose above $96,000 late last week but has dropped back to around $89,700. Treasury yields were mixed in the bond market. The yield on the 10-year Treasury rose to 4.29% from 4.23% late Friday. The yield on the two-year Treasury held steady at 3.60% from late Friday. Companies that focus on consumer staples held up better than most of the market. Colgate-Palmolive rose 1.1% and Campbell’s rose 1.5%. The price of U.S. crude oil rose 1.5% to $60.34 per barrel. The price of Brent crude, the international standard, rose 1.5% to $64.92. Trump linked his aggressive stance on Greenland to last year’s decision not to award him the Nobel Peace Prize, telling Norway’s prime minister that he no longer felt “an obligation to think purely of Peace,” in a text message released Monday. Trump’s message to Jonas Gahr Støre appeared to ratchet up a standoff between Washington and its closest allies over his threats to take over Greenland, a self-governing territory of NATO member Denmark. Trump’s threats have sparked outrage and a flurry of diplomatic activity across Europe, as leaders consider possible countermeasures, including retaliatory tariffs and the first-ever use of the European Union’s anti-coercion instrument. The trade and political conflict with Europe is heating up just as world leaders meet at the World Economic Forum annual meeting in Davos, Switzerland this week. Wedbush Securities analyst Dan Ives said the new tariff threat “is clearly an overhang on the conference,” but that it would likely simmer over time. “Our view is just like over the last year the bark will be worse than the bite on this issue and tariff threats as negotiations take place and tensions ultimately calm down between Trump and EU leaders,” Ives wrote in a note to clients. Tariffs threaten to boost inflation, although so far the increases have been less than many experts feared. Still, the threat of tariffs reigniting already high inflation could further complicate the Federal Reserve’s job. The central bank cut its benchmark interest rate three times late in 2025 to help bolster the economy as the job market weakened.…

A judge has ordered that actor Timothy Busfield be released from jail during a detention hearing on child sex abuse charges. The order Tuesday by state district court Judge David Murphy is linked to accusations that Busfield inappropriately touched a minor while working as a director on the set of the series “The Cleaning Lady.” The judge ordered the defendant released on his own recognizance, pending trial. Busfield will be supervised upon release by a pretrial service in Albuquerque, and can leave the state to live at home, the judge said. Busfield, an Emmy Award-winning actor who is known for appearances in “The West Wing,” “Field of Dreams” and “Thirtysomething,” was ordered held without bond last week at his first court appearance. Busfield called the allegations lies in a video shared before he turned himself in. Celebrity News Jan 13 Actor Timothy Busfield turns himself in amid child sex abuse allegations Actors Jan 10 Actor Timothy Busfield accused of child sex abuse in New Mexico At the hearing Tuesday, Busfield was handcuffed and dressed in an orange jail uniform at the hearing in a New Mexico state district court, while wife and actor Melissa Gilbert watched from the court gallery. Gilbert was tearful while exiting the courtroom after the judge ordered Busfield’s release. Gilbert, who played Laura Ingalls in the 1970s to ’80s TV series “Little House on the Prairie,” is on the list of potential witnesses submitted ahead of the hearing. Albuquerque police issued a warrant for Busfield’s arrest earlier this month on two counts of criminal sexual contact of a minor and one count of child abuse. A criminal complaint alleges the acts occurred on the set of the series “The Cleaning Lady.” According to the criminal complaint, an investigator with the police department says a child reported Busfield touched him on private areas over his clothing on one occasion when he was 7 years old and another time when he was 8. The boy’s twin brother told authorities he was also touched by Busfield, but did not specify where. He said he didn’t say anything because he didn’t want to get in trouble. On Monday, Busfield’s attorneys submitted two brief audio recordings of initial police interviews in which the children say Busfield did not touch them in private areas. The attorneys in a court filing argue that the complaint characterizes the interviews as a failure to disclose abuse, but an “unequivocal denial is materially different from a mere absence of disclosure.” According to the criminal complaint, one of the boys disclosed during a therapy session that he was inappropriately touched by the show’s director. Those records were obtained by police during the investigation. Arguing Tuesday for Busfield’s continued detention, Assistant District Attorney Savannah Brandenburg-Koch called evidence of abuse against Busfield strong and specific. “The boys’ allegations are supported by medical findings and by their therapist,” Brandenburg-Koch said. “Their accounts were specific and not exaggerated.” She also described a documented pattern of sexual misconduct, abuse of authority and grooming behavior by Busfield over the past three decades. Prosecutors also say witnesses have expressed fear regarding retaliation and professional harm. “GPS is not going to tell this court if he is around children or talking to witnesses,” Brandenburg-Koch said. Busfield’s attorneys have argued that the allegations emerged only after the boys lost their role in the TV show, creating a financial and retaliatory motive. The filings detailed what the attorneys said was a history of fraud by both the boys’ father and mother. They cited an investigation by Warner Bros. into the allegations that found them unfounded. Busfield also submitted letters vouching for his character, and his attorneys say he passed an independent polygraph test. Legal experts say New Mexico is among a few states that allow polygraph evidence in…

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