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By ELAINE KURTENBACH, AP Business Writer BANGKOK (AP) — European shares and U.S. stock futures skidded Monday after U.S. President Donald Trump threatened to slap a 10% extra tariff on imports from eight European countries because they oppose having America take control of Greenland. Related Articles IMF upgrades outlook for surprisingly resilient world economy to 3.3% growth this year Downtown St. Paul: The man with a plan for U.S. Bank Center, other empty buildings Business people: Laura Watterson to lead human relations at Andersen Corp. Real World Economics: How the Fed ends, with a whimper For Dungarvin’s Tim Madden, whose grandfather wrote the Winter Carnival legend, sponsoring the festival is full-circle Germany’s DAX lost 1.1% to 25,020.35 and the CAC 40 in Paris shed 1.3% to 8,150.78. Britain’s FTSE 100 declined 0.3% to 10,206.12. The future for the S&P 500 fell 0.8%, while that for the Dow Jones Industrial Average was down 0.7%. The European countries targeted by Trump blasted his threat to raise tariffs, saying they “undermine transatlantic relations and risk a dangerous downward spiral.” An unusually strong joint statement from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland was the most forceful rebuke from the European allies since Trump returned to the White House almost a year ago. Trump’s moves are testing the strategic alignment and institutional trust underlying support from Europe, the largest trading partner and provider of financing to the United States, Stephen Innes of SPI Asset Management said in a commentary. “In a world where geopolitical cohesion within the Western alliance is no longer taken for granted, the willingness to recycle capital indefinitely into U.S. assets becomes less automatic. This is not a short-term liquidation story. It is a slow rebalancing story, and those are far more consequential,” Innes said. In Asia, shares were mixed after China reported that its economy expanded at a 5% annual pace in 2025, though it slowed in the last quarter. Strong exports, despite Trump’s higher tariffs on imports from China, helped to offset relatively weak domestic demand. Hong Kong’s Hang Seng index lost 1.1% to 26,563.90. The Shanghai Composite index gained 0.3% to 4,114.00. In Tokyo, the Nikkei 225 declined 0.7% to 53,583.57. Japanese Prime Minister Sanae Takaichi was due to hold a news conference later Monday as she prepares to dissolve the parliament for a snap election next month. Elsewhere in Asia, South Korea’s Kospi jumped 1.3% to 4,904.66, pushing further into record territory on strong gains for tech-related companies. Computer chip maker SK Hynix climbed 1.1%. Taiwan’s Taiex added 0.7%, while the Sensex in India fell 0.6%. On Friday, stocks edged lower on Wall Street as the first week of corporate earnings season ended with markets trading near record levels. The S&P 500 fell 0.1% and the Dow industrials lost 0.2%. The Nasdaq composite shed 0.1%. They all notched weekly losses, while smaller company stocks fared better. The Russell 2000 eked out a 0.1% gain. Technology stocks were the strongest forces behind the market’s moves throughout most of the day. Several big technology stocks made strong gains and helped offset losses elsewhere. Earnings updates might give investors a better sense of how consumers are spending their money and how businesses are faring with persisting inflation and higher tariffs. Results from the technology sector are being scrutinized by investors trying to figure out whether the high stock prices fueled by the craze around artificial intelligence are justified. This week will bring a broader mix of earnings from airlines, industrial companies, and technology companies. United Airlines, 3M, and Intel are all scheduled to release their quarterly earnings results. The U.S. central bank will get another update on inflation this week with the government’s release of the personal consumption expenditures price index,…

By SAMY MAGDY and JULIA FRANKEL, Associated Press The European Union’s executive arm, Russia, Belarus and Thailand on Monday were the latest to be asked to join U.S. President Donald Trump’s new Board of Peace that will supervise the next phase of the Gaza peace plan, as a top Israeli official said the initiative is “bad for Israel” and should be scrapped. Related Articles Diplomacy or retaliation? The EU mulls its options as tensions with U.S. rise over Greenland Trump ties his stance on Greenland to not getting Nobel Peace Prize, European officials say One year of Trump. The cost is already too much to measure. Bruce Springsteen dedicates song to Renee Good and says ICE should ‘get the f— out of Minneapolis’ $1 billion in cash buys a permanent seat on Trump’s ‘Board of Peace’ Kremlin spokesman Dmitry Peskov said Russian President Vladimir Putin received the invitation and that the Kremlin is now “studying the details” and would seek clarity of “all the nuances” in contacts with the U.S. The Thai Foreign Ministry said it was also invited and that it was reviewing the details. Belarus President Alexander Lukashenko has been invited and is ready to take part, according to the country’s Foreign Ministry. European Commission spokesperson Olof Gill confirmed that Ursula von der Leyen, the president of the commission, received an invitation and would be speaking to other EU leaders about Gaza. Gill didn’t say whether the invitation had been accepted, but that the commission wants “to contribute to a comprehensive plan to end the Gaza conflict.” It’s unclear how many leaders have been invited to join the board. But a Trump reference in the invitation letters that the body would “embark on a bold new approach to resolving global conflict” suggested it could act as a rival to the U.N. Security Council, the most powerful body of the global organization created in the wake of World War II. According to the World Bank’s Gaza and West Bank Interim Rapid Damage and Needs Assessment (IRDNA) report released last year, it’ll take $53 billion to rebuild the strip. Israel’s objections to the board Israeli far-right Finance Minister Bezalel Smotrich on Monday dismissed the Board of Peace as a raw deal for Israel and called for its dissolution. “It is time to explain to the president that his plan is bad for the State of Israel and to cancel it,” Smotrich said at a ceremony inaugurating the new Yatziv settlement in the occupied West Bank. “Gaza is ours, its future will affect our future more than anyone else’s. We will take responsibility for what happens there, impose military administration, and complete the mission.” Smotrich, a hardliner who opposed the Gaza ceasefire, even suggested that Israel renew a full-scale offensive on the territory to destroy Hamas if it doesn’t abide by a “short ultimatum for real disarmament and exile.” On Saturday, the office of Israeli Prime Minister Benjamin Netanyahu said the formation of the committee wasn’t coordinated with the Israeli government and “is contrary to its policy” without clarifying what its objections were. Israel hasn’t been invited to join the committee, unlike Turkey, a key regional rival. The final list The U.S. is expected to announce its official list of members in the coming days, likely during the World Economic Forum meeting in Davos, Switzerland. Board members will oversee an executive committee that will be in charge of implementing the tough second phase of the Gaza peace plan that includes the deployment of an international security force, disarmament of Hamas and reconstruction of the war-devastated territory. A $1 billion contribution secures permanent membership on the board, with the money going to rebuild Gaza, according to a U.S. official who spoke on condition of anonymity about the charter as he wasn’t permitted to speak publicly about details of the board, which hasn’t been made public. A three-year appointment has no contribution requirement. But details of how this will…