Catenaa, Wednesday, January 22, 2026- Technology stocks bounced on Wednesday as President Trump ruled out military force in Greenland, easing geopolitical fears that sparked a global sell-off earlier in the week.
Chip stocks led the tech sector’s gain. Intel rallied 11%, while Advanced Micro Devices and Arm Holdings surged about 9% and 8%, respectively. Micron Technology and Marvell Technology rose at least 5% each.
Shares of tech companies sold off on Tuesday after Trump pledged new tariffs on eight countries that opposed a US acquisition of Greenland as leaders convened in Davos, Switzerland, for the World Economic Forum.
In a speech to the World Economic Forum in Davos on Wednesday, after prompting days of transatlantic tensions over his plans, Trump said that he was seeking “immediate negotiations” on acquiring the sovereign Danish territory for national security reasons.
The president ruled out the use of military force, but he insinuated that he would weigh Europe’s response to his demands when considering the US commitment to the North Atlantic Treaty Organization going forward.
“You can say yes, and we will be very appreciative, or you can say no, and we will remember,” the president said.
Denmark’s immediate reaction was “no.”
“We will not enter into any negotiations on the basis of giving up fundamental principles,” Danish Foreign Minister Lars Lokke Rasmussen said in Copenhagen. “That is something we will never do.” It “goes without saying” that Danes clearly reject ceding Greenland to the US, he added.
However, Trump dialed back the rhetoric on Wednesday, ruling out the use of military force. A potential peace deal between Russia and Ukraine, along with a takeover of Greenland, are among the agenda items for the president and his team during their visit to Switzerland.
Elsewhere, Tesla and Nvidia gained more than 2%, while Meta Platforms added about 1.5%. Amazon, Salesforce, and Apple were up slightly.
