Pro-Greenland protesters mock Trump's MAGA slogan with 'Make America Go Away' caps

COPENHAGEN, Denmark (AP) — Red baseball caps spoofing Donald Trump’s iconic MAGA hats have become a symbol of Danish and Greenlandic defiance against the U.S. president's threat to seize the frozen territory.

The caps reading “Make America Go Away” — parodying Trump’s “Make America Great Again” slogan — have gained popularity along with several variants on social media and at public protests, including a weekend demonstration held in freezing weather in the Danish capital.

European governments are rallying behind Denmark, citing the need to defend Arctic regions and warning that threats against Greenland undermine Western security.

Protesters, however, are less diplomatic.

“I want to show my support to Greenland and also show that I don’t like the president of the United States,” said 76-year-old Copenhagen resident Lars Hermansen, who wore one of the red caps at a protest Saturday.

The mock hats were created by Copenhagen vintage clothing store owner Jesper Rabe Tonnesen. Early batches flopped last year — until the Trump administration recently escalated its rhetoric over Greenland. Now they are popping up everywhere.

“When a delegation from America went up to Greenland, we started to realize this probably wasn’t a joke — it’s not reality TV, it’s actually reality,” said Tonnesen, 58. “So I said, OK, what can I do?” Can I communicate in a funny way with a good message and unite the Danes to show that Danish people support the people of Greenland?”

Demand suddenly surged from a trickle to selling out in the space of one weekend. Tonnesen said he has now ordered “several thousand.”

The original version designed by Tonnesen featured a play on words: “Nu det NUUK!” — a twist on the Danish phrase “Nu det nok,” meaning “Now it’s enough,” substituting Nuuk, Greenland’s tiny capital.

Protesters at Saturday’s rally waved red-and-white Danish and Greenlandic flags and carried handmade signs mocking U.S. claims over the territory, which is slightly larger than Saudi Arabia.

“No Means No,” read one sign. Another declared, “Make America Smart Again.”

Wearing one of the spoof hats, protester Kristian Boye, 49, said the gathering in front of Copenhagen City Hall struck a lighthearted tone while delivering a serious message.

“I’m here to support the Greenlanders, who are going through a very hard time right now,” he said. “They are being threatened with having their country invaded. I think it’s totally unacceptable.”

A worker prints a red cap for with the slogan "Nu det NUUK!," a twist on the Danish phrase “Nu det nok,” meaning “Now it’s enough,” substituting Nuuk, Greenland’s tiny capital, for sale at the store of the hat's creator Jesper Rabe Tonnesen in Copenhagen, Denmark, Friday, Jan. 16, 2026. (AP Photo/James Brooks)

A worker prints red caps for sale covered by the slogan "Nu det NUUK!," a twist on the Danish phrase “Nu det nok,” meaning “Now it’s enough,” substituting Nuuk, Greenland’s tiny capital, a the store of the hat's creator Jesper Rabe Tonnesen in Copenhagen, Denmark, Friday, Jan. 16, 2026. (AP Photo/James Brooks)

Store owner Jesper Rabe Tonnesen wears a red cap for sale that he created with the slogans "Make America go away," on the side, and on the front: "Nu det NUUK!," a twist on the Danish phrase “Nu det nok,” meaning “Now it’s enough,” substituting Nuuk, Greenland’s tiny capital, in Copenhagen, Denmark, Thursday, Jan. 15, 2026. (AP Photo/James Brooks)

Store owner Jesper Rabe Tonnesen wears a red cap for sale that he created with the slogan "Nu det NUUK!," a twist on the Danish phrase “Nu det nok,” meaning “Now it’s enough,” substituting Nuuk, Greenland’s tiny capital, in Copenhagen, Denmark, Thursday, Jan. 15, 2026. (AP Photo/James Brooks)

Store owner Jesper Rabe Tonnesen gives a thumbs up as he wears a red cap for sale that he created with the slogan "Nu det NUUK!," a twist on the Danish phrase “Nu det nok,” meaning “Now it’s enough,” substituting Nuuk, Greenland’s tiny capital, in Copenhagen, Denmark, Thursday, Jan. 15, 2026. (AP Photo/James Brooks)

People march during a pro- Greenlanders demonstration, in Copenhagen, Denmark, Saturday, Jan. 17, 2026. (Emil Helms/Ritzau Scanpix via AP)

People march during a pro- Greenlanders demonstration, in Copenhagen, Denmark, Saturday, Jan. 17, 2026. (Emil Helms/Ritzau Scanpix via AP)

NEW YORK (AP) — With no clear end in sight, the war with Iran is sending oil prices back to $100 per barrel, and stocks are sinking worldwide on Thursday.

The S&P 500 fell 1.2% and is returning to big swings following a couple days of relative calm. The Dow Jones Industrial Average was down 607 points, or 1.3%, as of 11 a.m. Eastern time, and the Nasdaq composite was 1.7% lower.

The center of action was again the oil market, where the price of a barrel of Brent crude, the international standard, got as high as $101.59 overnight before pulling back to $100.44, a 9.2% rise. Worries are worsening that the war could block the production of oil in the Persian Gulf for a long time and cause a debilitating surge of inflation for the global economy.

Iran's new supreme leader released his first statement Thursday since succeeding his late father, saying his country would keep up attacks on Gulf Arab neighbors and use the effective closure of the Strait of Hormuz as leverage against the United States and Israel. A fifth of the world’s oil typically sails through the strait, and oil producers in the region are cutting production because their crude has nowhere to go.

Countries around the world are trying to make up for that, and the International Energy Agency said Wednesday that its members would release a record amount of oil, 400 million barrels, from their stockpiles built for such emergencies.

But such moves are short-term fixes, and they do not clear the long-term risks. Analysts have said that if the Strait of Hormuz remains closed, oil prices could jump to $150.

To be sure, the U.S. stock market has a history of bouncing back relatively quickly from military conflicts in the Middle East and elsewhere, as long as oil prices don't stay too high for too long. Even with all the up- and- down swings of the last couple weeks, many rocking markets hour to hour, the S&P 500 is still just roughly 4% below its all-time high set in January.

What’s made this jump for oil prices frightening is not only the degree — prices jumped near $120 earlier this week to their highest level since 2022 — but that they’re also occurring during an uncertain time for the economy.

Last month’s report on hiring by U.S. employers was surprisingly weak, which raised worries about a possible worst-case scenario for the economy called “stagflation.” That’s one where economic growth stagnates while inflation remains high. And it's a miserable mix that the Federal Reserve has no good tools to fix.

A more encouraging signal arrived Thursday. A report said that the number of U.S. workers applying for unemployment benefits inched lower last week. That’s a sign that layoffs are potentially remaining low around the country.

Dollar General, meanwhile, reported better profit and revenue for the latest quarter than analysts expected. But the retailer with relatively low prices, whose customers often have the least cushion to absorb higher gasoline prices, gave forecasts for revenue this upcoming year that indicated a slowdown in growth. Its stock fell 5.8%.

Some of the worst losses on Wall Street again hit companies with big fuel bills. United Airlines sank 3.9%, and cruise-ship operator Carnival fell 5.7%.

Worries about the private-credit industry continued to hurt the market. Investors have been rushing to pull their money out of some funds and companies that have lent to businesses whose profits are potentially under threat. Many of the worries are focused on business that could be made obsolete by new AI-powered rivals and may not pay back their loans.

Morgan Stanley fell 4% after its North Haven Private Income fund said it allowed investors to redeem only 5% of its total shares instead of the nearly 11% they had requested. That 5% cap is the advertised limit.

In stock markets abroad, indexes fell across Europe and Asia.

Japan’s Nikkei 225 dropped 1%, and France’s CAC 40 sank 0.9% for two of the world’s bigger moves.

In the bond market, Treasury yields continued to climb because of upward pressure from rising oil prices. The yield on the 10-year Treasury rose to 4.24% from 4.21% late Wednesday and from just 3.97% before the war started.

Higher yields help make all kinds of borrowing more expensive, such as mortgages for potential U.S. homebuyers and bond offerings for companies looking to expand. They also push down on prices for all kinds of investments, from stocks to crypto.

Because of the spike for oil prices, traders have pushed back forecasts for when the Fed could resume its cuts to interest rates. President Donald Trump has been angrily calling for such cuts, which would give the economy and job market a boost but also potentially worsen inflation.

A barrel of benchmark U.S. crude rose 10.1% to $96.12.

AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

An earlier version of the story incorrectly reported the percentage drop for United Airlines’ stock.

Gregg Maloney works on the floor at the New York Stock Exchange in New York, Tuesday, March 10, 2026. (AP Photo/Seth Wenig)

Gas prices are displayed at a station Wednesday, March 11, 2026, in Evanston Ill. (AP Photo/Erin Hooley)

Pedestrians mill about outside the New York Stock Exchange in New York, Friday, March 6, 2026. (AP Photo/Seth Wenig)

The New York Stock Exchange is seen in New York, Friday, March 6, 2026. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Tuesday, March 10, 2026. (AP Photo/Seth Wenig)