Institution: Trump's tariff threat surrounding Greenland has a greater impact on the stock market than the foreign exchange market.

AT Global Markets believes that Trump's tariff threats surrounding the Greenland issue, along with the weakening market risk sentiment, have had a greater impact on the stock market than on the foreign exchange market. "A comprehensive trade war between the US and Europe is not beneficial for either party, so the stock market may suffer greater impact, while the demand for safe-haven assets is expected to remain strong," said Nick Twidale, Chief Market Analyst at AT Global Markets. The market is still digesting the risks posed by the Greenland issue, and US stock index futures may continue to be under pressure in the short term; if the situation escalates into a trade war, the index may experience even larger declines. The analyst stated, "Unless there is some convergence in the language from the US in the coming days, I believe the stock market will suffer heavy losses, and safe-haven assets such as gold and silver may hit record highs"; "Although the market has experienced similar threats in the past that were resolved, positions are clearly being held cautiously, and traders are ready to hit the sell button at any time when the situation escalates."