European stocks were lower on Monday as traders reacted to U.S. President Donald Trump’s threat to hike tariffs on European countries if they oppose his bid to buy Greenland. The pan-European Stoxx 600 was trading 1.1% lower shortly before 2:00 p.m. in London (9:00 a.m. ET), with all but one sector — telecoms, up 0.5% — in negative territory. The market slump comes after Trump announced on Saturday that eight European allies would face increasing tariffs, starting at 10% on Feb. 1 and rising to 25% on June 1, if a deal is not reached that allows Washington to “buy” Greenland, a semi-autonomous territory that’s part of Denmark. Asia-Pacific markets mostly slipped Monday, as investors assessed threats from the Trump administration toward Greenland over the weekend, as well as key economic data from China out Monday.Over in Asia, China released its fourth-quarter GDP numbers, along with December figures for retail sales, urban investment and industrial output. Hong Kong Hang Seng index tumbled 1.07%, and the mainland Chinese CSI 300 fell marginally. Japan’s Nikkei 225 lost 0.65% and ended at 53,583.57, marking three straight losing sessions, while the Topix was down marginally to 3,656.4. Yields on long term Japanese Government Bonds climbed to fresh records. The benchmark 10-year JGB yield hit a high of 2.279%, its highest level since 1999. Yields on 20- and 30-year JGBs also hit record highs. South Korea’s markets bucked the wider trend, with the Kospi up 1.32%, finishing at 4,904.66 while the small-cap Kosdaq gained 1.44% and ended at 968.36. Australia’s S&P/ASX 200 fell 0.33% to 8,874.5, dragged by tech stocks. Oil prices were up slightly on Monday, after the previous session’s rise, as Iran’s deadly crackdown on protests quelled civil unrest, narrowing chances for a U.S. attack on the major Middle Eastern producer that could disrupt supplies. Brent crude was trading at $64.19 a barrel by 0327 GMT, up 6 cents or 0.09%. U.S. West Texas Intermediate for Feb. rose 9 cents, or 0.15%, to $59.53 a barrel. That contract expires on Tuesday and the more active March contract was at $59.39, up 5 cents, or 0.08%. Gold and silver prices climbed fresh peaks on Monday, as investors flocked to safe-haven assets on intensifying tensions, after U.S. President Donald Trump threatened to impose extra tariffs on European countries over the control of Greenland. Spot gold rose 1.5% to $4,663.37 per ounce by 0335 GMT, after scaling an all-time high of $4,689.39. U.S. gold futures for Feb. delivery jumped 1.6% to $4,669.90 per ounce.