U.S. stocks plunged on Tuesday, with the Dow dropping 1.8%, the S&P 500 falling 2.1%, and the Nasdaq sliding 2.4%. Tech, consumer discretionary, communication services, and financial stocks saw significant declines. Trump’s tariff threats caused the selloff, with the fear gauge, VIX, rising 26.67% and 20.6 billion shares traded.

Trump’s threats of higher tariffs on NATO members over the Greenland issue led to fears of a global crisis, causing stocks to tumble. The President also threatened 20% tariffs on French wines. European leaders criticized the threats as “unacceptable” and hinted at countermeasures. Tech stocks like Apple and NVIDIA suffered the most with declines.

3M reported better-than-expected earnings for the fourth quarter but saw its shares fall by 5.1%. The earnings season is in full swing, with investors closely watching big companies’ results. Both the S&P 500 and Nasdaq turned negative for the year after Tuesday’s declines. Gold prices surged to record highs, and Treasury yields faced selling pressure.

Zacks Investment Research’s experts have identified a top stock with the potential to double in value. Director of Research Sheraz Mian believes this stock stands out among their recommendations. For more information and to access the full list of top stock picks with doubling potential, visit the provided link.

Read more at Nasdaq: Stock Market News for Jan 21, 2026