The Financial Post reports in its Wednesday, Jan. 21, edition that as markets opened Tuesday, the "Sell America" trade led the S&P 500 to drop 1.5 per cent, erasing year-to-date gains. A Bloomberg dispatch to the Post reports that investor willingness to shrug off earlier shocks is beginning to erode. President Donald Trump's push for control over Greenland is fueling investor fears of worst-case scenarios. As of last week, the average volatility across U.S. bonds, equities and the dollar over the past month had sank to the lowest since at least 1990. That run of tranquillity seems finished for now. The widespread view among investors is that the U.S. and Europe will reach a diplomatic solution on Greenland. But the chaotic style of White House negotiations is putting a chill on market confidence. "The latest step-up in transatlantic tensions and tariff uncertainty dents the near-term investment case for European equities," wrote Citigroup's Beata Manthey. Investors have lately been resilient to any geopolitical frictions, with stocks continuing to climb in early January. In Bank of America's latest survey, investors were the most bullish since July, 2021, and reported record low cash levels.