Financial markets turn risk-off amid fresh U.S. tariff threats, awaiting Wall Street and earnings

Financial markets are bracing for the reaction of U.S. equities to renewed tariff tensions and an increasingly fragile geopolitical backdrop. Futures point to sharply lower openings on Wall Street, reflecting a broad risk-off mood. Netflix’s earnings kick off another busy week of U.S. corporate results, testing whether solid numbers can help soothe investor nerves.

As markets await the reopening of U.S. trading, our intermarket dashboards are already capturing a renewed acceleration in gold. Key risk indicators are likely to test their medium-term moving averages.

Volatility is picking up, reflecting heightened uncertainty and growing investor nervousness. Close attention remains warranted on macro developments and the potential emergence of new market catalysts.

Pre-Market Futures: Global futures signal a clear risk-off tone (–0.57% on average), with U.S. markets sharply lower (–1.12%), Europe modestly negative (–0.42%) and Asia slightly in the red (–0.26%).

On the macro front, today’s agenda includes UK labour market data and the latest update of the ZEW investor confidence index for both Germany and the Eurozone.

On the earnings side, as mentioned, the spotlight remains firmly on Netflix, 3M and United Airlines.

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NOTES AND WARNINGS

Data compiled by kbmeter.com. Analysis date: 20 January 2026 - 7:52 AM GMT+1
This content is provided for informational purposes only and should not be considered financial advice. All scores and assessments are based on the previous trading day’s closing prices. Futures indications refer to the date and time of the analysis.