Trump's latest tariff proposal targeting the EU and UK is making waves in policy circles, though market participants are still digesting what it means for global trade dynamics. The announcement came bundled with a controversial suggestion about acquiring Greenland, adding an unconventional twist to standard trade negotiations.

Right now, US equity markets are in a holding pattern with the cash market closed, but futures trading is gearing up to kick off later today—and that's likely where we'll see initial price discovery. Traders are watching closely to see if this escalating trade rhetoric will ripple through crypto markets and commodities. The real question: will this spark a flight to risk-off assets, or will markets shrug it off as political theater? Keep an eye on opening bell performance.