US stocks recover half of the prior day's plunge after Trump calls off Greenland-related tariffs

NEW YORK (AP) — The U.S. stock market bounced back from its worst day since October on Wednesday after President Donald Trump said he reached the framework for a deal about Greenland, an island he’s long coveted, and won’t impose tariffs he had threatened on several European countries.

The S&P 500 rallied 1.2% after Trump said the deal, “if consummated, will be a great one for the United States of America” and its allies in the North Atlantic region. The announcement triggered an immediate move higher in the stock market, which found solace earlier in the day after Trump ratcheted down his rhetoric and told business and government leaders in Europe that he would not use force to take “the piece of ice.”

The de-escalation in tensions helped the S&P 500 recover just over half of its 2.1% drop from the day before and pull closer to its all-time high set earlier this month. The Dow Jones Industrial Average jumped 588 points, or 1.2%, and the Nasdaq composite climbed 1.2%.

Treasury yields also eased in the bond market in another signal of reduced worries among investors. Besides the progress on Greenland, they also got help from a calming of yields in Japan’s jumpy bond market. The value of the U.S. dollar, meanwhile, clawed back some of its declines against other currencies after sliding the day before.

Trump himself acknowledged how the U.S. stock market sold off on Tuesday because of his desire for Greenland, but he called it “peanuts compared to what it’s gone up” in the first year of his second term and said it would go up further in the future.

Trump has a history of making big threats that send financial markets sliding, only to pull back later and reach deals that are seen as less bad for the economy or for inflation than his initial suggestion.

On one hand, the pattern has given rise to the “TACO” acronym suggesting “Trump Always Chickens Out” if financial markets react strongly enough. On the other, Trump has ultimately struck deals that outsiders may have earlier considered unlikely, ones that he’s crowed about later. The most obvious example is Trump’s announcement of high tariffs on “Liberation Day,” which eventually led to trade deals with many of the world’s major economies.

Helping to lead the U.S. stock market Wednesday was Halliburton. The oil field services company rose 4.1% after reporting a stronger profit for the latest quarter than analysts expected.

United Airlines climbed 2.2% after likewise reporting a better profit for the final three months of 2025 than analysts expected. CEO Scott Kirby said that the airline’s strong momentum in revenue is continuing into 2026.

They helped offset a 2.2% drop for Netflix. The streamer sank even though it reported a stronger profit than expected. Investors focused instead on its slowing subscriber growth and its lower-than-expected forecast for profit in the current quarter.

Kraft Heinz sank 5.7% after Berkshire Hathaway warned investors that it may be interested in selling its 325 million shares in the food giant that former CEO Warren Buffett helped create in 2015.

Berkshire took a $3.76 billion write-down on its Kraft-Heinz stake last summer. Buffett said last fall that he was disappointed in Kraft Heinz’ plan to split the company in two, and Berkshire’s two representatives resigned from the Kraft board last spring.

All told, the S&P 500 rose 78.76 points to 6,875.62. The Dow Jones Industrial Average climbed 588.64 to 49,077.23, and the Nasdaq composite gained 270.50 to 23,224.82.

In the bond market, the yield on the 10-year Treasury eased to 4.25% from 4.30% late Tuesday. That’s almost all the way back to the 4.24% level where it was at on Friday.

That was before Trump threatened to impose 10% tariffs on Denmark, Norway, Sweden, Germany, France, the United Kingdom, the Netherlands and Finland for opposing U.S. control of Greenland. That would have been on top of a 15% tariff specified by a trade agreement with the European Union that has yet to be ratified.

In stock markets abroad, indexes were mixed in mostly modest movements across Europe and Asia.

Japan’s Nikkei 225 slipped 0.4%.

The country’s prime minister, Sanae Takaichi, has called a snap election for Feb. 8, which had sent yields of long-term government bonds to record levels and raised worries across global financial markets. The expectation is that Takaichi, who is capitalizing on strong public support ratings, will cut taxes and boost spending and increase the government’s already heavy load of debt.

After surging as high as 4.22% on Tuesday, the yield on the 40-year Japanese government bond pulled back to 4.05% Wednesday.

AP Business Writers Chan Ho-him and Matt Ott contributed.

Options trader Chris Dattolo works on the floor of the New York Stock Exchange, Wednesday, Jan. 21, 2026. (AP Photo/Richard Drew)

Specialist Anthony Matesic, left, and trader Edward Curran work on the floor of the New York Stock Exchange, Wednesday, Jan. 21, 2026. (AP Photo/Richard Drew)

Specialist Meric Greenbaum works at his post on the floor of the New York Stock Exchange, as a television shows President Donald Trump speaking at the World Economic Forum, Wednesday, Jan. 21, 2026. (AP Photo/Richard Drew)

Options trader Phil Fracassini works on the floor of the New York Stock Exchange, Tuesday, Jan. 20, 2026. (AP Photo/Richard Drew)

A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Jan. 21, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)

A screen above the trading floor of the New York Stock Exchange displays the closing number for the Dow Jones industrial average, Tuesday, Jan. 20, 2026. (AP Photo/Richard Drew)

People stand in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Jan. 21, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)

A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Jan. 21, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)

A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Jan. 21, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)

DENVER (AP) — Brent Burns took a wayward stick to the face while playing for San Jose in October 2013 that ended up costing him teeth and time on the ice.

Since his return — Nov. 21, 2013, to be precise — he's been a permanent fixture in every lineup. Burns, now 41 years old and with the Colorado Avalanche, is set to play in his 1,000th straight regular-season game Saturday at Dallas.

The bearded blueliner has skated through the bumps and bruises that come with delivering checks and deflecting slap shots. So much so that Avalanche coach Jared Bednar can’t wait to one day sit down with Burns and discuss all the ailments that may have kept many a player sidelined for days, weeks and maybe even months.

“He plays through them like it’s not a big deal,” said Bednar, whose team currently owns the NHL's top seed with eight games remaining, including the pivotal contest with the Stars (six points back). “(The streak) is an incredible accomplishment. It’s hard to believe.”

For Burns, it's a streak that's involved plenty of good fortune along the way.

“You've got pucks flying around your head that you don’t see, skates popping up, guys falling on the ice,” Burns said Friday after practice. "There are so many little things that happen 100 times a game. Or you look at your visor after a game, it’s all marked up. It’s a tough game.

"It’s special to think back about some of the games that I went through that I probably shouldn’t have been (in), but I think that’s what makes it special, too. ... A lot of luck — probably why I hate talking about it.”

Burns, who turned 41 on March 9, joined the Avalanche on a one-year deal this season to chase the only thing missing from his resume — a Stanley Cup title.

He's become another leader/mentor on the Avalanche. He still chips in goals, too, on a high-scoring team that boasts Nathan MacKinnon, Cale Makar and Martin Necas. Burns has 11 tallies this season, joining Hall of Famer Nicklas Lidstrom as the only defensemen in league history to notch double-digit goals at 40 or older.

But Burns' specialty remains putting his 6-foot-5, 228-pound frame to good use on opponents who venture into his territory. That’s what makes his streak so remarkable — all the punishment he dishes out and takes. He’s closing in on the all-time ironman streak held by forward Phil Kessel, who played in 1,064 consecutive regular-season games from Nov. 3, 2009, to April 13, 2023.

“What Phil did was incredible,” Burns said. “He’s such a cool character to have that (record), too."

It’s a streak Avalanche captain Gabriel Landeskog fully appreciates. Landeskog missed three full regular seasons after helping the Avalanche to the 2022 Stanley Cup title because of a lingering knee injury.

“He comes to the rink with a great attitude," Landeskog explained. "He wants to be here. He’s excited to come to work.”

Burns also arrives to the rink lugging around his military-style backpack that’s stuffed with everything necessary to keep him on skates. There’s a cloud of mystery surrounding the precise contents of the heavy pack, though. Whatever it may contain — rumors of recovery gear to his own coffee setup — there's no denying it's become a healing elixir. Burns is in his 22nd NHL season and about to play in his 1,572nd career contest Saturday. The 2016-17 Norris Trophy winner is still averaging nearly 19 minutes a game and has 83 blocked shots this season.

The streak certainly impresses goaltender Scott Wedgewood.

“In my position alone, you’ll do something one game and your hip locks up a little bit,” Wedgewood said. “It’s like, ‘Thank God, I’m not playing the next one. It feels like crap right now.’

“That happens 15 times a year, just on me, let alone taking body checks and slap shots. Playing as much as he does now at that age, keeping that body fresh and everything? He probably wouldn’t be the one to tell you, but he’s probably played through thousands of different nuances.”

Burns made his NHL debut on Oct. 8, 2003, with Minnesota after being a first-round pick by the Wild. He spent seven seasons with Minnesota, 11 in San Jose and three more in Carolina before joining Colorado.

His lone appearance in the Stanley Cup final was in 2016 with the Sharks, where they lost in six games to the Pittsburgh Penguins. Burns has played in 135 career playoff contests.

His current games streak started Nov. 21, 2013 — he played right wing that season — when he returned from his injury and promptly scored a goal. In his 999th straight game Wednesday against Vancouver, he delivered a goal and an assist to become the fifth different defensemen to notch a 30-point season while in their 40s.

“It’s just ridiculous,” Makar said of the streak before suffering an upper-body injury Monday against Calgary that will keep him out a few games. “For him to be able to go out there every night and make an impact, and not just float around and do the minimum, is pretty spectacular, especially at his age.”

AP NHL: https://apnews.com/hub/nhl

Washington Capitals center Dylan Strome (17) passes the puck against Colorado Avalanche defenseman Brent Burns (84) during the first period of an NHL hockey game, Sunday, March 22, 2026, in Washington. (AP Photo/Nick Wass)

Colorado Avalanche defenseman Brent Burns, left, drives past Winnipeg Jets defenseman Dylan Samberg in the third period of an NHL hockey game Saturday, March 28, 2026, in Denver. (AP Photo/David Zalubowski)

Colorado Avalanche defenseman Brent Burns (84) smiles at his teammates at the end of the first period of an NHL hockey game against the Chicago Blackhawks, Friday, March 20, 2026, in Chicago. (AP Photo/Erin Hooley)