Stocks book worst day since October as investors face more Trump-induced trade turmoil and the corporate earnings season continues.

The posts: On his social media platform Truth Social, Trump threatened 200 percent tariffs on French wine and criticized the United Kingdom for relinquishing the Chagos Archipelago, among other things. The IRS chief started reorganizing the agency days before filing season.

The rhetoric on tariffs and Greenland has ratcheted up from there as Trump and his administration make their way to the World Economic Forum in Davos, Switzerland. Trump is expected to meet with top CEOs at the global confab and make a highly anticipated speech on Wednesday.

The 16.7% annualized return for the S&P 500 to kick off President Trump's second term is bested by only one other president since 1897.

Defense stocks spiked a day after Trump sent the sector tumbling with his comments that he wouldn't allow buybacks and dividends from defense firms.

The president has long been sensitive to bond market movements and regularly cites surges in stocks as evidence that his agenda is working.

He's pressured the Federal Reserve to lower interest rates, and he's now taking a new approach to easing mortgage rates by announcing that Fannie Mae and Freddie Mac would buy $200 billion mortgage bonds. Such a move will raise prices and therefore lower yields on mortgages since rates for new mortgages tend to follow rates for mortgage bonds.

Donald Trump says "we will work something out" over Greenland, ahead of meetings with European leaders at the World Economic Forum. Mr Trump made the remarks at a news conference to mark the first anniversary of his second term.