Tech futures and crypto stocks slide as U.S.-Europe trade tensions escalate, dragging bitcoin lower

U.S. tech index futures are under pressure ahead of Tuesday’s market open, as concerns rise over President Donald Trump’s failed attempt to acquire Greenland and the risk of retaliatory tariffs between the U.S. and several European nations.

The Invesco QQQ Trust Series, an ETF tracking the tech-heavy Nasdaq 100, is down 2% in premarket trading following the Martin Luther King Jr. Day holiday on Monday.

Trump signaled he may impose a 10% tariff on Denmark and select European countries, which reportedly are prepared to respond with their own levies on U.S. imports. Prediction markets suggest limited odds of a breakthrough, with Polymarket pricing just a 20% chance that Trump secures Greenland before 2027.

Bitcoin fell to $90,000, down 8% from Thursday’s high, weighing on crypto-linked equities. MicroStrategy (MSTR) dropped 6% to $164, Galaxy Digital (GLXY) fell 8% to $32, and IREN (IREN) lost 8% to $53. Coinbase (COIN) and Circle Internet (CRCL) each declined roughly 5%, while broader tech weakness persisted, with all “Magnificent Seven” stocks down 1%-3%.

Safe-haven assets are benefiting from the turmoil. Gold rose above $4,700 per ounce, up 9% year-to-date, while silver climbed above $95 per ounce, gaining 32% so far this year.

U.S. Treasury yields moved higher, while Japanese long-dated bonds came under pressure. Yields on Japan’s 30-year government bonds surged close to 4%, highlighting stress in global bond markets. The DXY dollar index fell 0.5% to 98.5, reflecting a modest pullback in the dollar against a basket of major currencies.