Muscat: European stocks recorded a sharp decline today after US threats to impose additional tariffs unless the US is allowed to buy Greenland. The pan-European STOXX 600 index fell 1.3 percent in a gloomy start to a week full of earnings announcements and the World Economic Forum in Davos, which will be under close scrutiny for any indications related to tariffs and geopolitical outlooks. Both the French CAC 40 index fell 1.8 percent, the German DAX index fell 1.4 percent, and the Financial Times 100 index in Britain fell 0.4 percent.

According to Oman News Agency, the broader European market was affected as investors remained cautious amid the geopolitical tensions stirred by the unusual demand from the US. The market participants are closely monitoring the developments in the situation, as well as other global events that are expected to influence market trends throughout the week.